Bridgeport, California Property Taxes
The median property tax rate in Bridgeport, CA is 1.05%, 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 $220,257 in Bridgeport, the typical annual property tax bill is $2,179, which is below the national median of $2,690. Property taxes in Bridgeport are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bridgeport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bridgeport or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bridgeport, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,313
$2,184
Ownwell’s Bridgeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgeport 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 Bridgeport, California
Property taxes in Bridgeport, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 1.05%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other counties in California and the national median. For comparison, the 93517 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Bridgeport provides valuable insights into the varying tax landscape across Mono County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
1.05%
Average Mono County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93517 | 1.01% | 1.03% | 1.05% | 1.07% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, California
In Bridgeport, 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 Mono 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 Bridgeport, 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. 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 Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 93517, with a median tax bill of $2,179, which is also the lowest in the area.
Average Bridgeport Assessed Value
$220,257
Average Mono County Assessed Value
$402,900
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93517 | $72,578 | $124,707 | $220,257 | $342,982 | $497,126 |
Source: Ownwell
Property Tax Bills Across Bridgeport, California
In Bridgeport, CA, located in Mono County, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the county assessor and is typically a percentage of the market value. Homeowners in Bridgeport can expect their property tax bills to vary significantly depending on their property's assessed value. The median home price in Bridgeport is $220,257, and property tax bills range from $1,249 at the 25th percentile to $4,797 at the 90th percentile. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or abatements. For example, the highest median tax bill in the area is $2,179, which is consistent across the zip code 93517. These tax obligations can significantly impact homeowners, affecting their monthly budget and overall financial planning. Compared to the national median property tax rate of 0.99%, Bridgeport's property taxes reflect the local economic conditions and property values.
Average Bridgeport Tax Bill
$2,179
Average Mono County Tax Bill
$4,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93517 | $701 | $1,249 | $2,179 | $3,427 | $4,797 |
Source: Ownwell