Princeton, California Property Taxes
The median property tax rate in Princeton, CA is 1.05%, which is higher than the national median of 0.99% but lower than California's state median of 1.21%. With a median home value of $107,800 in Princeton, the typical annual property tax bill amounts to $1,078, which surpasses the national median of $2,690. Property taxes in Princeton are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Princeton'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 Princeton 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
Princeton, 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 Princeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Princeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Princeton 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 Princeton, California
Property taxes in Princeton, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Princeton is 1.05%, higher than the U.S. national median of 0.99%. Local government entities within Princeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Princeton 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 Princeton's effective property tax rate to other counties in California and the national median. For comparison, the 95970 zip code has the highest median property tax rate of 1.05%, while the same 95970 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Princeton provides valuable insights into the varying tax landscape across Colusa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Princeton Tax Rate
1.05%
Average Colusa County Tax Rate
1.10%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Princeton, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95970 | 0.99% | 1.01% | 1.05% | 1.10% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Princeton, California
In Princeton, 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 Colusa 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 Princeton, 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 Princeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 95970 has the highest and lowest median tax bills, both at $1,078.
Average Princeton Assessed Value
$107,800
Average Colusa County Assessed Value
$181,785
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Princeton, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95970 | $33,892 | $59,122 | $107,800 | $185,925 | $261,029 |
Source: Ownwell
Property Tax Bills Across Princeton, California
In Princeton, CA, located in Colusa County, property tax bills are calculated based on the assessed value of your property. This value is determined by the local assessor's office and is typically a percentage of the property's market value. For homeowners in Princeton, the median home price is $107,800. The property tax rate in this area, while varying slightly, aligns closely with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and specific tax rates set by local authorities. Homeowners can expect tax bills to range significantly; for instance, the 25th percentile tax bill is around $592, while the 75th percentile tax bill reaches $1,917. Those in the 90th percentile may see bills as high as $2,502. Understanding these factors helps homeowners anticipate their annual property tax liability, which is crucial for financial planning and maintaining homeownership affordability in Princeton.
Average Princeton Tax Bill
$1,078
Average Colusa County Tax Bill
$1,887
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Princeton, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95970 | $366 | $592 | $1,078 | $1,917 | $2,502 |
Source: Ownwell