94401 Property Tax Rate

Property owners in ZIP code 94401 (San Mateo, California) pay a median of $7,309/year in property taxes on homes valued at $1,123,300. This translates to an effective tax rate of 0.65%, which is 6% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 94401 is approximately $609, which factors into escrow payments on mortgages. This ZIP code is located within San Mateo County. This is $2,409 more than the California average of $4,900/year.

Compared to similar ZIP codes in California, 94401 has lower property taxes. ZIP codes with similar effective rates include 91343 (0.65%) and 92057 (0.65%).

In San Mateo, property taxes represent approximately 6.0% of the median household income of $121,258, 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.