Real Estate and Saving Tax Dollars

About Mill Valley Real Estate:

The Marin market ended 2011 with a modest increase over 2010 of + 0.74 percent in volume and +7.71 percent in units. The median price dropped -8.57 percent from $700,000 to $640,000.  Inventory remains constrained and we are seeing some properties receive multiple offers. There is definitely a flurry of activity as we ease into the New Year.

Current Mill Valley Activity: 

For Mill Valley there are 62 active homes on the market ranging from $209,000-$4,995,000. 19 Contingent, 6 Pending and 7 Sold since Jan. 1.

Tax Bill Relief:

There are many tax benefits and credits available to you as a property owner.  Here are a few:

• Did you know if you are 65 years or older you can have your property tax bill lowered? It is called a Senior Exemption on your parcel tax. All you have to do is call Tamalpais Union High School District (945-3709) and (389-7700) and ask for their Senior Exemption form.

• Prop 8 – to obtain property tax relief, you must apply between July 1st and Nov. 1. Go online to Property Value Notice Information and obtain your form to request a lower tax rate, or email: assessor@co.marin.ca.us

• Prop 55 – Homeowners who are older than 55 and whose replacement property is of equal or lesser value than their original residence may qualify to transfer their tax base from original to new property.

Other Thoughts About Saving Money:

• To pay off your mortgage or not? If you pay an extra $50 to $500 a month or make one extra payment a year, you will save thousands in interest over the life of your loan.

• Just in time for winter: $600 rebate offered to Marin homeowners getting an energy efficiency assessment. www.co.marin.us/energyupgrade or call 415-473-4197

Real Estate Lobbies:

We have heard much about lobbies in Washington these days. As a homeowner, we have lobbyists who defend our property rights. The following are organizations I belong to and you may want to check their websites to see what is going on in the real estate arena.

• National Association of Realtors
• California Association of Realtors
• Marin Association of Realtors

Any questions? You know how to reach me.

Stephanie Witt