94941 Property Tax Rate

Property owners in ZIP code 94941 (Mill Valley, California) pay a median of $10,001/year in property taxes on homes valued at $1,990,100. This translates to an effective tax rate of 0.50%, which is 28% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 94941 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Marin County. This is $5,101 more than the California average of $4,900/year.

Compared to similar ZIP codes in California, 94941 has higher property taxes. ZIP codes with similar effective rates include 95039 (0.50%) and 92604 (0.50%).

In Mill Valley, property taxes represent approximately 4.8% of the median household income of $210,217, providing context for the relative tax burden on homeowners in this area.

Under California's Proposition 13, your purchase price becomes your base year assessed value at close of escrow, with taxes limited to 1% and only 2% annual increases possible until resale. Marin County offers a Homeowners' Exemption reducing assessed value by $7,000—file with the Marin County Assessor within 30 days of purchase to secure this exemption on your tax bill. Request your Preliminary Assessment Notice from the Marin County Assessor to confirm the base year value and exemption application, noting the 60-day appeal window for any disputes.