property tax question / marin county

Asked by Virerus, Tiburon, CA Sun Jun 17, 2012

Is it possible the property tax is so low for a property that sold for $1.2M in 1998? this is directly from county assessor's website.

Value and Assessment Event Information
Tax Roll Year Value
Land 2011 12,236
Improvements 2011 12,236

Total Bill Charges: 238.78

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5
Maryann Pearson’s answer
Maryann Pear…, Agent, Larkspur, CA
Mon Jun 18, 2012
One possibility is the owner rolled over a lower tax base from a primary residence they owned before this one under marin provisions for over 55 age homeowners. You could call tax assessors w AP # and ask them
Maryann
Web Reference:  Http://Maryannpearson.com
0 votes
Maryann Pear…, Agent, Larkspur, CA
Mon Jun 18, 2012
One possibility is the owner rolled over a lower tax base from a primary residence they owned before this one under marin provisions for over 55 age homeowners. You could call tax assessors w AP # and ask them
Maryann
Web Reference:  Http://Maryannpearson.com
0 votes
Maryann Pear…, Agent, Larkspur, CA
Mon Jun 18, 2012
Assessor's number is (415) 499-7215
0 votes
Toni Abruzzo…, Agent, Greenbrae, CA
Mon Jun 18, 2012
Property taxes are based on sales price. Some how the property value has gone down. Maybe the house had a fire so the owner had it reassessed based on land value. I would need the address to be more specific. I have worked the Tiburon market for more than 30 years so send me an email and maybe I can give you more information.
0 votes
Tina Lam, Agent, San Jose, CA
Mon Jun 18, 2012
It's likely an owner who has held on to the property for 40-50 years. The original cost basis was likely just a few thousand dollars and slowly incremented by annual inflation adjustments. Plenty of families around the Bay Area have made it into the top 1% by selling properties from past generations. Farm land that sold for $100/acre in 1960s are sometimes worth $25-100K/acre today.
Web Reference:  http://www.archershomes.com
0 votes
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