Termo, California Property Taxes
The median property tax rate in Termo, CA is 1.07%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $61,492, the typical annual property tax bill in Termo is approximately $612, which is significantly below the national median of $2,690. Property taxes in Termo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Termo's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Termo or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Termo, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$658
$621
Ownwell’s Termo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Termo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Termo to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Termo, California
Property taxes in Termo, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Termo is 1.07%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Termo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Termo estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Termo's effective property tax rate to other counties in California and the national median. For comparison, the 96132 zip code has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Termo provides valuable insights into the varying tax landscape across Lassen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Termo Tax Rate
1.07%
Average Lassen County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Termo, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96132 | 1.00% | 1.00% | 1.07% | 1.19% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Termo, California
In Termo, California, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lassen County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Termo, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Termo is $61,492, with tax bills ranging from $292 at the 25th percentile to $2,493 at the 90th percentile. The zip code with the highest and lowest median tax bill is 96132, both at $612. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Termo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Termo Assessed Value
$61,492
Average Lassen County Assessed Value
$145,778
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Termo, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96132 | $18,097 | $30,172 | $61,492 | $171,471 | $245,410 |
Source: Ownwell
Property Tax Bills Across Termo, California
In Termo, CA, property tax bills are calculated based on the assessed value of the home, which is typically determined by the county assessor. The median home price in Termo is $61,492. Property tax rates in Termo are influenced by various factors including local government budgets, public service funding needs, and voter-approved measures. Homeowners in Termo can expect their tax bills to vary significantly; for instance, the 25th percentile tax bill is around $292, while the 75th percentile tax bill can reach up to $1,571. At the higher end, the 90th percentile tax bill soars to approximately $2,493. Compared to the national median property tax rate of 0.99%, Termo homeowners experience a range of tax bills, impacting their annual expenses. The highest and lowest median tax bills in Termo both stand at $612, indicating some consistency in certain areas. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Termo Tax Bill
$612
Average Lassen County Tax Bill
$1,486
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Termo, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96132 | $196 | $292 | $612 | $1,571 | $2,493 |
Source: Ownwell