Los Gatos, California Property Taxes
The median property tax rate in Los Gatos, CA is 1.25%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Los Gatos at $768,792, the typical annual property tax bill reaches $9,772, exceeding the national median of $2,690. Property taxes in Los Gatos 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 Los Gatos'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 Los Gatos 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
Los Gatos, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$9,610
$9,077
Ownwell’s Los Gatos Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Los Gatos with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Los Gatos 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 Los Gatos, California
Property taxes in Los Gatos, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Los Gatos is 1.25%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Los Gatos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Los Gatos 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 Los Gatos's effective property tax rate to other counties in California and the national median. For comparison, the 95031 zip code has the highest median property tax rate of 1.78%, while the 95033 zip code has the lowest median tax rate of 1.25%. Understanding how these cities compare with Los Gatos provides valuable insights into the varying tax landscape across Santa Cruz County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Los Gatos Tax Rate
1.25%
Average Santa Cruz County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Los Gatos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95031 | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% |
| 95033 | 1.17% | 1.20% | 1.25% | 1.40% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Los Gatos, California
In Los Gatos, 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 Santa Cruz 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 Los Gatos, 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 Los Gatos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Los Gatos is $9,802 in the 95033 zip code, while the lowest is $3,373 in the 95031 zip code.
Average Los Gatos Assessed Value
$768,792
Average Santa Cruz County Assessed Value
$477,836
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Los Gatos, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95031 | $189,018 | $189,018 | $189,018 | $189,018 | $189,018 |
| 95033 | $178,624 | $403,766 | $770,201 | $1,178,210 | $1,558,548 |
Source: Ownwell
Property Tax Bills Across Los Gatos, California
Property tax bills in Los Gatos, located in Santa Cruz County, CA, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value generally starts with the purchase price of the home and can increase annually by up to 2%, as allowed by California's Proposition 13. The tax rate is applied to this assessed value to determine the annual property tax bill. For homeowners in Los Gatos, the median home price is $768,792, which significantly impacts the tax bill. Homeowners in the 25th percentile can expect a tax bill around $5,717, while those in the 75th percentile may face a tax bill of approximately $14,605. Those in the 90th percentile could see tax bills as high as $18,643. The highest median tax bill in the area is $9,802 in the 95033 zip code, whereas the lowest is $3,373 in the 95031 zip code. These variations highlight the significant impact of property values on tax obligations, affecting homeowners' financial planning and budgeting.
Average Los Gatos Tax Bill
$9,772
Average Santa Cruz County Tax Bill
$6,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Los Gatos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95031 | $3,373 | $3,373 | $3,373 | $3,373 | $3,373 |
| 95033 | $3,090 | $5,723 | $9,802 | $14,609 | $18,656 |
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 | |
|---|---|
| Santa Cruz Tax Assessor | |
| Website | sccounty01.co.santa-cruz.ca.us |