Oceano, California Property Taxes
The median property tax rate in Oceano, CA is 1.12%, slightly higher than the national median of 0.99% but lower than California's state median of 1.21%. With the median home value in Oceano at $290,856, the typical annual property tax bill amounts to $3,423, surpassing the national median of $2,690. Property taxes in Oceano are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Oceano'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 Oceano or another part of San Luis Obispo County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oceano, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Oceano Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oceano with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oceano 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 Oceano, California
Property taxes in Oceano, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oceano is 1.12%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Oceano set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oceano 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 Oceano's effective property tax rate to other areas in San Luis Obispo County and the national median. For comparison, the 93445 zip code has the highest median property tax rate of 1.12%, while the 93420 zip code has the lowest median tax rate of 1.05%. Understanding how these areas compare with Oceano provides valuable insights into the varying tax landscape across San Luis Obispo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oceano Tax Rate
1.12%
Average San Luis Obispo County Tax Rate
1.06%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oceano, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93420 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
| 93445 | 0.97% | 1.09% | 1.12% | 1.19% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Oceano, California
In Oceano, 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 San Luis Obispo County Assessor's Office 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 Oceano, 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 Oceano helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Oceano is $3,423 in the 93445 zip code, while the lowest is $347 in the 93420 zip code.
Average Oceano Assessed Value
$290,856
Average San Luis Obispo County Assessed Value
$470,020
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oceano, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93420 | $33,072 | $33,072 | $33,072 | $33,072 | $33,072 |
| 93445 | $32,573 | $123,322 | $290,873 | $457,518 | $639,447 |
Source: Ownwell
Property Tax Bills Across Oceano, California
In Oceano, located in San Luis Obispo County, CA, property tax bills are calculated based on the assessed value of a home, which is often derived from its market value. The median home price in this region stands at $290,856. Homeowners can expect their property tax bills to vary significantly; for instance, the tax bill at the 25th percentile is $1,812, while at the 75th percentile, it reaches $5,053, and at the 90th percentile, it goes up to $6,714. Factors influencing these tax bills include the home's assessed value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the county is $3,423 in the 93445 zip code, while the lowest is $347 in the 93420 zip code. These variations can have a substantial impact on homeowners, affecting their annual financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, homeowners in Oceano may experience both higher and lower tax obligations depending on their specific circumstances.
Average Oceano Tax Bill
$3,423
Average San Luis Obispo County Tax Bill
$5,157
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Oceano, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93420 | $347 | $347 | $347 | $347 | $347 |
| 93445 | $654 | $1,817 | $3,423 | $5,058 | $6,716 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| San Luis Obispo Tax Assessor | |
| Website | propertyinquiryportal.slocounty.ca.gov |