Larkspur, California Property Taxes
The median property tax rate in Larkspur, CA is 1.44%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Larkspur at $956,786, the typical annual property tax bill reaches $13,346, exceeding the national median of $2,690. Property taxes in Larkspur are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Larkspur's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Larkspur or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Larkspur, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$13,778
$13,014
Ownwell’s Larkspur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Larkspur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Larkspur to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Larkspur, California
Property taxes in Larkspur, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Larkspur is 1.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within Larkspur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Larkspur estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Larkspur's effective property tax rate to other areas in Marin County and the national median. For comparison, the 94924 zip code has the highest median property tax rate of 3.35%, while the 94939 zip code has the lowest median tax rate of 1.44%. Understanding how these areas compare with Larkspur provides valuable insights into the varying tax landscape across Marin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Larkspur Tax Rate
1.44%
Average Marin County Tax Rate
1.38%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Larkspur, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% |
| 94939 | 1.22% | 1.29% | 1.44% | 1.75% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Larkspur, California
In Larkspur, California, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Marin County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Larkspur, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Larkspur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $13,394 in zip code 94939, while the lowest is $4,259 in zip code 94924.
Property Tax Assessment Values Across Larkspur, California
Source: Ownwell
$37,528
$1,404,773
$2,772,017
Average Larkspur Assessed Value
$956,786
Average Marin County Assessed Value
$766,131
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Larkspur, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $127,082 | $127,082 | $127,082 | $127,082 | $127,082 |
| 94939 | $239,427 | $376,153 | $959,202 | $1,808,259 | $2,696,405 |
Source: Ownwell
Property Tax Bills Across Larkspur, California
Property tax bills in Larkspur, Marin County, CA, are calculated based on the assessed value of a home, which is typically determined by the county assessor. The assessed value is often a percentage of the market value of the property. In Larkspur, the median home price stands at $956,786, which significantly influences the property tax bill. Tax rates are applied to this assessed value to determine the annual tax obligation. Several factors impact the tax bill, including property improvements, market conditions, and local tax levies. For instance, the 25th percentile tax bill is $6,751, while the 75th percentile tax bill reaches $23,133. At the 90th percentile, homeowners might see tax bills as high as $32,597. These figures highlight the variation in tax obligations based on property values and specific assessments. Homeowners in Larkspur face higher property tax bills compared to the national median property tax rate of 0.99%. This can affect their overall housing costs, influencing decisions on buying, selling, or investing in property within the area.
Average Larkspur Tax Bill
$13,346
Average Marin County Tax Bill
$10,481
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Larkspur, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $4,259 | $4,259 | $4,259 | $4,259 | $4,259 |
| 94939 | $5,005 | $6,780 | $13,394 | $23,154 | $32,611 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Marin Tax Assessor | |
| Website | apps.marincounty.org |