Novato, California Property Taxes
The median property tax rate in Novato, CA is 1.35%, significantly higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Novato at $606,807, the typical annual property tax bill reaches $7,910, far exceeding the national median of $2,690. Property taxes in Novato 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 Novato'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 Novato 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
Novato, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$8,192
$7,738
Ownwell’s Novato Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Novato with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Novato 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 Novato, California
Property taxes in Novato, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Novato is 1.35%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Novato set these rates annually, and they can vary significantly across different neighborhoods. Each year, Novato 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 Novato's effective property tax rate to other areas in Marin County and the national median. For comparison, the 94973 zip code has the highest median property tax rate of 1.40%, while the 94956 zip code has the lowest median tax rate of 1.10%. Understanding how these cities compare with Novato 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 Novato Tax Rate
1.35%
Average Marin County Tax Rate
1.38%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Novato, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94945 | 1.18% | 1.25% | 1.32% | 1.45% | 1.77% |
| 94947 | 1.22% | 1.27% | 1.35% | 1.51% | 1.89% |
| 94949 | 1.22% | 1.29% | 1.40% | 1.53% | 1.72% |
| 94956 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
| 94973 | 1.26% | 1.31% | 1.40% | 1.49% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Novato, California
In Novato, 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 Appraisal District 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 Novato, 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. The median home price in Novato is $606,807, with tax bills ranging significantly across different areas. For example, the highest median tax bill in the region is $30,449 in the 94956 zip code, while the lowest median tax bill is $7,154 in the 94947 zip code. By understanding 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 Novato helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Novato Assessed Value
$606,807
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 Novato, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94945 | $183,504 | $355,428 | $632,588 | $923,875 | $1,274,592 |
| 94947 | $159,062 | $312,696 | $545,504 | $855,508 | $1,149,611 |
| 94949 | $224,085 | $411,535 | $691,182 | $1,011,714 | $1,337,463 |
| 94956 | $2,772,017 | $2,772,017 | $2,772,017 | $2,772,017 | $2,772,017 |
| 94973 | $417,970 | $535,065 | $730,222 | $925,380 | $1,042,475 |
Source: Ownwell
Property Tax Bills Across Novato, California
In Novato, property tax bills are calculated based on the assessed value of the home, which is determined by the Marin County Assessor's Office. The process begins with the assessed value, typically close to the market value, and then applies the local tax rate to this amount. Factors considered include the property's location, improvements, and market conditions. For homeowners in Novato, the median home price stands at $606,807. Property taxes can vary significantly, with tax bills at the 25th percentile around $4,993, while those at the 75th percentile reach up to $11,568. The 90th percentile tax bill can be as high as $15,615. The highest median tax bill in the region is $30,449 in the 94956 zip code, whereas the lowest is $7,154 in the 94947 zip code. These property taxes impact homeowners by contributing to local services such as schools, public safety, and infrastructure, directly influencing the overall quality of life in Novato.
Average Novato Tax Bill
$7,910
Average Marin County Tax Bill
$10,481
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Novato, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94945 | $3,133 | $5,052 | $8,081 | $11,351 | $15,316 |
| 94947 | $2,949 | $4,626 | $7,154 | $10,589 | $13,660 |
| 94949 | $3,637 | $5,721 | $9,333 | $13,728 | $17,538 |
| 94956 | $30,449 | $30,449 | $30,449 | $30,449 | $30,449 |
| 94973 | $6,220 | $7,471 | $9,555 | $11,640 | $12,890 |
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 |