Market Conditions in 94903>Question Details

Jennifer Hol…, Both Buyer and Seller in 94903

what is the property tax rate for san rafael for 2006, 2007, and 2008. I'm interested in the overall

Asked by Jennifer Holland, 94903 Sat Jun 21, 2008

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thanks, jen

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4
Hi Jen
Each property tax is based on the amount of the purchase price. Basic tax is 1% plus several small add ons that vary from town to town. Maximum the tax can increase is 2% per year. As a lender, we us 1.25% of the purchase price to estimate the annual taxes. The 0.25% is to cover the add ons such as mosquito abatement, school bond measures, sewer and water pipe replacement etc; the mesures you voted on at local elections.
Please call me anytime you have a lender question. 415-258-1691.
Larry Martinez - http://www.MartinezLoans.com
0 votes Thank Flag Link Mon Nov 14, 2011
http://www.co.marin.ca.us/depts/AR/compass/index.asp

Try this link if you have a particular property in your mind.
0 votes Thank Flag Link Tue Aug 9, 2011
Dave's correct in stating 1.25%. However, to be more specific, all homes pay a "basic" tax of 1% of the assessed value. For example, if you bought your house for $100,000, the basic tax for the first year (not including supplemental taxes) would be $1,000. Then depending on your town or city, there will be additional bonds, assessments or taxes. The average, or rule of thumb, is .25%. With time, properties appreciate in value. Prop 13 limits the tax collectors from increasing your "assessed" value more than 2% a year.

You may be reading about homeowners who bought at the peak of the market applying to have their home "re-assessed" to lower their tax bill.

Best,

Steve
0 votes Thank Flag Link Fri Jun 27, 2008
Hi Jen!

The overall property tax rate in Marin is approximately 1.25% of the sales price of a home. The easiest way to calculate the property tax rate is to multiply the sales price of your home by .0125 and that will give you the approximate overall property tax that will be owed on the property for the year. A property is reassesed in California every time it is sold due to prop. 13.

Please let me know if I can be of any more assistance to you.

Sincerely,
Dave Corbin
Frank Howard Allen Realtors
415-899-9261
http://www.davecorbin.net
0 votes Thank Flag Link Sat Jun 21, 2008
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