94030 Property Tax Rate

Property owners in ZIP code 94030 (Millbrae, California) pay a median of $9,387/year in property taxes on homes valued at $1,929,700. This translates to an effective tax rate of 0.49%, which is 30% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 94030 is approximately $782, which factors into escrow payments on mortgages. This ZIP code is located within San Mateo County. This is $4,487 more than the California average of $4,900/year.

Compared to similar ZIP codes in California, 94030 has higher property taxes. ZIP codes with similar effective rates include 92105 (0.49%) and 96058 (0.48%).

In Millbrae, property taxes represent approximately 6.0% of the median household income of $157,567, providing context for the relative tax burden on homeowners in this area.

Under California's Proposition 13, your property will be reassessed to your purchase price at close of escrow, establishing a new base year tax; annual increases are then capped at 2% until the next sale. San Mateo County's Homeowners' Exemption reduces assessed value by $7,000—file with the San Mateo County Assessor within 30 days of closing to apply. Request a Preliminary Assessment Notice from the San Mateo County Assessor before closing to confirm your estimated base year value and exemption eligibility.