Palomar Park, California Property Taxes
The median property tax rate in Palomar Park, CA is 1.08%, which is higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $997,162, the typical annual property tax bill in Palomar Park reaches $10,859, significantly exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence exemption. Understanding Palomar Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Palomar Park or another part of the city, comprehending the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Palomar Park, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$10,769
$10,171
$1,148
Average Palomar Park, California Tax Savings
Ownwell’s Palomar Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palomar Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palomar Park 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 Palomar Park. 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 Palomar Park, California
Property taxes in Palomar Park, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palomar Park is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Palomar Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palomar Park 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 Palomar Park's effective property tax rate to other counties in California and the national median. For comparison, the 94062 zip code has the highest median property tax rate of 1.08%, while the 94062 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Palomar Park 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 Palomar Park Tax Rate
1.08%
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 Palomar Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94062 | 1.07% | 1.08% | 1.08% | 1.09% | 1.10% |
Source: Ownwell
$1,148
Average Palomar Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palomar Park, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Palomar Park, California. 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. In Palomar Park, 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 Palomar Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 94062, with a median tax bill of $10,859.
Property Tax Assessment Values Across Palomar Park, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Palomar Park Assessed Value
$997,162
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 Palomar Park, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94062 | $282,350 | $552,561 | $997,162 | $1,737,986 | $2,424,873 |
Source: Ownwell
$1,148
Average Palomar Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palomar Park, California
In Palomar Park, San Mateo County, CA, property tax bills are calculated based on the assessed value of a home, which is typically determined by the county assessor. For a median home price of $997,162, homeowners can expect tax bills to vary significantly. At the 25th percentile, tax bills are around $5,993, while at the 75th percentile, they can reach $18,763. The 90th percentile sees tax bills as high as $26,206. These amounts are considerably higher than the national median property tax rate of 0.99%. Several factors influence these tax bills, including property size, location, and any applicable exemptions. High property taxes can be a significant burden for homeowners, impacting their financial stability. Ownwell can help homeowners in Palomar Park reduce their property tax bills by providing expert property tax appeal services. By ensuring accurate assessments and identifying potential exemptions, Ownwell can help you save substantially on your property taxes, offering peace of mind and financial relief.
Average Palomar Park Tax Bill
$10,859
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 Palomar Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94062 | $3,097 | $5,993 | $10,859 | $18,763 | $26,206 |
Source: Ownwell
$1,148
Average Palomar Park 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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