94061 Property Tax Rate

Property owners in ZIP code 94061 (Redwood City, California) pay a median of $9,510/year in property taxes on homes valued at $1,938,300. This translates to an effective tax rate of 0.49%, which is 29% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 94061 is approximately $793, which factors into escrow payments on mortgages. This ZIP code is located within San Mateo County. This is $4,610 more than the California average of $4,900/year.

Compared to similar ZIP codes in California, 94061 has lower property taxes. ZIP codes with similar effective rates include 95567 (0.49%) and 96143 (0.49%).

In Redwood City, property taxes represent approximately 6.7% of the median household income of $141,599, 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.