Local government received good news this month when the assessed value of property in Marin jumped 6.5% in 2021, meaning tax collection will substantially increase. Tax rolls partially fund the county government, local school districts and special districts.
Marin County Assessor-Recorder-County Clerk Shelly Scott attributed the increase in Marin’s red hot real estate market.
The median price for a home jumped over $2 million last spring, a record for the county. Sales also took a jump with 3,915 sold in 2021 compared to 3,251 in 2020.
Sales of condos and townhomes similarly increased.
Roughly 40% of the county’s spending is covered by property taxes. It can fluctuate, but on average it has increased about 5% per year.
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