Body of News Release
San Rafael, CA –The 2024 property assessment roll for Marin County is $105.6 billion, a $4.3 billion (4.27%) increase from 2023. Shelly Scott, Marin County’s Assessor-Recorder-County Clerk, certified the 2024 roll, which represents property value assessments as of January 1, 2024.
The assessment roll is an annual valuation of residential and commercial real estate, manufactured homes, floating homes, boats, aircraft, personal property and business equipment. The assessment roll generates the property tax revenue that funds essential services. The revenue supports services like education, public health, law enforcement, fire protection, and transportation.
The 4.27% increase in assessment roll marks 14 years of continuous growth. The assessed value continues to increase despite low volume of real estate transactions and fewer major construction projects in Marin County. Marin's real estate values experienced small decreases compared to a year ago but remain relatively stable with an offsetting downward pull from high interest rates and upward push from low inventory and high demand.
“I am proud to announce the Marin County Assessor’s Office has successfully completed the 2024 local Assessment Roll,” said Assessor Scott. “Completing the Annual Roll cannot be done without the hard work and dedication of the Assessor’s Office staff. I am incredibly proud of the entire team and thank them for once again ensuring that local government agencies will have financial resources needed to provide essential services to the people of Marin County.”
Tax Savings
In addition to the tax increase protections afforded by Prop. 13, some properties also qualify for one of many tax savings programs. For example, homeowners can apply for a $7,000 reduction to the assessed value if they own and occupy the property as their principal place of residence. There are several other tax savings programs for disabled veterans, hospitals, churches, colleges, museums, and non-profit organizations. This year, over $3.5 billion was exempted from the roll.
Change in Assessed Value Notification
Marin property owners were notified by mail if the assessed value of their property changed other than the 2.0% cap on the California Consumer Price Index for 2024-2025. Value change may be due to new ownership, new construction, market rate fluctuation, or other reason. Taxpayers should review their taxable values and follow up with the Assessor before tax bills are issued in the fall.
Understanding a Property’s Assessed Value
The Assessor's Office is available to discuss the basis of a property assessment or answer assessment roll questions. Call (415) 473-7215, or visit the Assessor’s Understanding Assessments webpage, to learn how assessments can change from one year to the next.