Mill Valley, California Property Taxes
The median property tax rate in Mill Valley, CA is 1.41%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Mill Valley at $1,052,672, the typical annual property tax bill reaches $14,747, exceeding the national median of $2,690. Property taxes in Mill Valley 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 Mill Valley'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 Mill Valley 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
Mill Valley, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$14,843
$14,019
Ownwell’s Mill Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mill Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mill Valley 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 Mill Valley, California
Property taxes in Mill Valley, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill Valley is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mill Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill Valley 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 Mill Valley's effective property tax rate to other areas in Marin County and the national median. For comparison, the 94941 zip code has the highest median property tax rate of 1.41%, while the 94972 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Mill Valley 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 Mill Valley Tax Rate
1.41%
Average Marin County Tax Rate
1.38%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mill Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | 1.26% | 1.26% | 1.26% | 1.26% | 1.26% |
| 94941 | 1.18% | 1.26% | 1.41% | 1.68% | 2.32% |
| 94972 | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Mill Valley, California
In Mill Valley, 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 Mill Valley, 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 Mill Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Marin County is $17,764 in the 94924 zip code, while the lowest is $6,294 in the 94972 zip code.
Property Tax Assessment Values Across Mill Valley, California
Source: Ownwell
$37,528
$1,404,773
$2,772,017
Average Mill Valley Assessed Value
$1,052,672
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 Mill Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $1,413,822 | $1,413,822 | $1,413,822 | $1,413,822 | $1,413,822 |
| 94941 | $221,586 | $537,952 | $1,055,759 | $1,760,816 | $2,610,230 |
| 94972 | $532,606 | $532,606 | $532,606 | $532,606 | $532,606 |
Source: Ownwell
Property Tax Bills Across Mill Valley, California
Property tax bills in Mill Valley, Marin County, CA, are determined based on the assessed value of a property. This assessed value is typically a percentage of the market value, which is influenced by factors such as property size, location, and market conditions. Homeowners in Mill Valley can expect property tax bills that vary significantly, with the 25th percentile tax bill at $8,629 and the 75th percentile reaching up to $22,287. At the 90th percentile, tax bills can soar to $31,202, showcasing a wide range in property tax obligations. These property tax bills have a substantial impact on homeowners, influencing their overall housing costs and financial planning. For comparison, the national median property tax rate is 0.99%, which means that Mill Valley homeowners might experience higher tax burdens due to the premium real estate market in Marin County. The highest median tax bill in the area is $17,764 in the 94924 zip code, while the lowest is $6,294 in the 94972 zip code, indicating variability even within the county.
Average Mill Valley Tax Bill
$14,747
Average Marin County Tax Bill
$10,481
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Mill Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $17,764 | $17,764 | $17,764 | $17,764 | $17,764 |
| 94941 | $5,241 | $8,690 | $14,774 | $22,315 | $31,237 |
| 94972 | $6,294 | $6,294 | $6,294 | $6,294 | $6,294 |
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 |