Hillsborough, California Property Taxes
The median property tax rate in Hillsborough, CA is 1.30%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Hillsborough at $2,694,213, the typical annual property tax bill reaches $34,962, far exceeding the national median of $2,690. Property taxes in Hillsborough are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hillsborough'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 Hillsborough 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
Hillsborough, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$35,025
$33,078
$1,148
Average Hillsborough, California Tax Savings
Ownwell’s Hillsborough Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsborough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsborough to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Hillsborough. 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 Hillsborough, California
Property taxes in Hillsborough, California, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsborough is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hillsborough set these rates annually, and they can vary across different neighborhoods. Each year, Hillsborough 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 Hillsborough's effective property tax rate to other counties in California and the national median. For comparison, the 94010 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Hillsborough provides valuable insights into the varying tax landscape across San Mateo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsborough Tax Rate
1.30%
Average San Mateo County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsborough, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94010 | 1.19% | 1.22% | 1.30% | 1.48% | 2.03% |
Source: Ownwell
$1,148
Average Hillsborough Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hillsborough, California
In Hillsborough, 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 Mateo 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. Assessment notices in Hillsborough 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 Hillsborough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hillsborough, the highest and lowest median tax bills are both $34,962, found in the zip code 94010.
Property Tax Assessment Values Across Hillsborough, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Hillsborough Assessed Value
$2,694,213
Average San Mateo County Assessed Value
$685,382
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsborough, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94010 | $526,493 | $1,343,589 | $2,694,213 | $4,233,000 | $6,037,261 |
Source: Ownwell
$1,148
Average Hillsborough Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hillsborough, California
In Hillsborough, CA, property tax bills are calculated based on the assessed value of a home, which is often influenced by the market value. With a median home price of $2,694,213, homeowners can expect significant tax bills. The tax rate in this area is influenced by local levies and bonds, resulting in a median tax bill of $34,962 in the 94010 zip code, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and market trends can also affect the assessed value, thereby impacting the tax bill. Homeowners in Hillsborough often face tax bills ranging from $19,802 at the 25th percentile to $71,591 at the 90th percentile. This substantial range underscores the importance of accurate property assessments. Ownwell can assist homeowners by reviewing their property assessments and identifying potential errors or overvaluations. By appealing these assessments, Ownwell helps reduce tax liabilities, ensuring homeowners only pay their fair share.
Average Hillsborough Tax Bill
$34,962
Average San Mateo County Tax Bill
$8,692
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsborough, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94010 | $10,853 | $19,802 | $34,962 | $51,870 | $71,591 |
Source: Ownwell
$1,148
Average Hillsborough Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | December 2 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| San Mateo Tax Assessor | |
| Website | county-taxes.net |
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