General Fund Revenue

Property tax accounts for approximately one third of General Fund Revenue. The basic property tax is 1 percent of assessed valuation, of which the Town receives approximately 13%. A 4.4% increase is estimated for 2023-2024.

• Secured: The Town’s share of 1 percent of the Town’s assessed valuation billed by the County of Marin. A property assessment may not exceed a 2 percent increase in any year, unless the property has sold or improvements have been constructed.
• Unitary: State collected and distributed tax on utility-owned properties. In Marin County, PG&E property accounts for approximately 25% of unitary tax collections.
• Unsecured: Tax on property such as business office equipment and possessory interest tax.
• Supplemental: Taxes assessed on property sales and new construction outside the regular tax bills.
• ERAF Property Tax: Beginning in the 1992-93 fiscal year, the State of California diverted property taxes from local governments to boost revenues to the State. The fund to which these local revenues are being diverted is called “ERAF,” Educational Revenue Augmentation Funds. In Marin County, the ERAF formula allows the local governments to keep a portion of the diverted property taxes, or ERAF taxes.
• Property Tax in Lieu of Motor Vehicle License Fees: The vehicle license fee (VLF), also called the motor vehicle in-lieu tax, is a tax on the ownership of a registered vehicle in place of taxing vehicles as personal property.

• Sales Tax: The Town receives 1 percent of the 8.75 percent in sales tax on retail sales transactions taking place in Corte Madera. Sales Tax accounts for approximately one third of General Fund revenue.
• Business License Tax: Each business activity in Corte Madera is required to have a business license. Most license fees are based on the gross receipts of the business.
• Paramedic Tax: A tax of $75 annually per residence and $75 per 1000 of square feet for non residential purposes. The tax is for paramedic and/or emergency services.
• Transient Occupancy Tax: A tax of 12% for rental accommodation of 30 days or less. 2% of the 12% is allocated to the Chamber of Commerce. 2% is paid to the County of Marin.
• Property Transfer: The Town and County of Marin each receive $.55 per $1,000 of the sales price of property sold Corte Madera.

• Garbage: The Town receives 20% of the revenue collected from garbage collections.
• Cable TV: The Town receives 5% of the revenues received by the cable companies, from Corte Madera subscribers. Legislation has held that high speed internet access fees collected by the cable company are not subject to the franchise fee.
• Electricity & Gas: The Town receives 2% of electrical service and gas service revenue in Corte Madera.

• Building, engineering, planning, fire, and other public work fees associated with construction.

• Vehicle Code: The Town, County, and State each receive a share of the fines collected for vehicle code citations issued in Corte Madera. The State and County are the first to collect their share on the fines imposed by the courts.
• Local fines: The Town’s share of fines collected on parking citations issued in Corte Madera and other miscellaneous fines.

• Interest: The Town invests its idle funds with the Local Agency Investment Fund (LAIF) managed by the State Treasurer.
• Leases and Rentals: Revenues from leases and rental of Town properties.

• Proposition 172 Sales Tax: Allocation of sales tax approved by California voters to fund public safety costs.
• Homeowners Exemption (HOPTR): Reimbursement for the property tax lost on the $7,000 homeowners’ property tax exemption.
• American Rescue Plan Act of 2021: Revenue received as part of an economic stimulus package passed into law in response to the financial impacts of the COVID-19 emergency.
• CARES Act: Revenue received as part of an economic stimulus package passed into law in response to the financial impacts of the COVID-19 emergency.

• Revenue from the Sewer Fund to reimburse the Town for personnel costs related to Sanitary District No. 2.
• Contribution from the Chamber of Commerce for July 4th activities.
• Revenue received for Town staff assuming responsibility for Central Marin Fire Authority and Marin Emergency Radio Authority administrative and finance related duties.
• Revenue received for Town staff providing facilities and maintenance services to Central Marin Police Authority.