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Marin Homeowners Request Tax Breaks



A multitude of Marin residents are hoping to get property tax deductions. This is happening because the homeowners are saying that their property values have gone down and that Marin County must reassess their situation. The County expects to have up to three thousand current property owners requesting tax cuts for 2008 to 2009.

Almost all of the homes that are requesting tax breaks were homes that had been bought within the last two to three years. Marin County is required, by law, to make reductions in tax values when there are increasing drops in the housing market.

Most of the homes hit by dropping values in the Marin real estate market are located in the north. In fact, the housing market in south Marin has already been showing signs of recovery and growth.

The highest rate of foreclosures, in Marin County, are taking place in Navato. In Novato, the median price of a home is down over 8% from a year ago.

If you are interested in filing for an assessment you must do so between July 2nd - December 1. You can request an application by going to the Marin Civic Center in San Rafael, or you can call 499-7345.



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