Lake Of The Woods, California Property Taxes
The median property tax rate in Lake of the Woods, CA is 1.16%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Lake of the Woods at $145,283, the typical annual property tax bill is $1,727, which is below the national median of $2,690. Property taxes in Lake of the Woods are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding the property tax system in Lake of the Woods, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lake of the Woods or another part of Kern County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Of The Woods, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,685
$1,592
Ownwell’s Lake of the Woods Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake of the Woods with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake of the Woods 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 Lake Of The Woods, California
Property taxes in Lake of the Woods, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake of the Woods is 0.81%, which is lower than both the California state median of 0.76% and the U.S. national median of 0.99%. Local government entities within Lake of the Woods set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake of the Woods 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 Lake of the Woods' effective property tax rate to other counties in California and the national median. For comparison, 93306 has the highest median property tax rate of 1.16%, while 93307 has the lowest median tax rate of 0.79%. Understanding how these cities compare with Lake of the Woods provides valuable insights into the varying tax landscape across Kern County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Of The Woods Tax Rate
1.16%
Average Kern County Tax Rate
1.42%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Of The Woods, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Lake Of The Woods, California
In Lake of the Woods, 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 Kern 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 Lake of the Woods, 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 Lake of the Woods helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lake of the Woods is $145,283. The 25th percentile tax bill is $994, while the 75th percentile tax bill is $2,361, and the 90th percentile tax bill is $3,250.
Property Tax Assessment Values Across Lake Of The Woods, California
Source: Ownwell
$11,832
$273,858
$535,884
Average Lake Of The Woods Assessed Value
$145,283
Average Kern County Assessed Value
$197,658
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Of The Woods, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Lake Of The Woods, California
In Lake of the Woods, Kern County, CA, property tax bills are calculated based on the assessed value of a home, which is typically determined by the county assessor. The median home price in this region is $145,283. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the tax bill, including property improvements, market conditions, and local tax levies. For homeowners in Lake of the Woods, the tax bill can vary significantly. At the 25th percentile, property taxes are around $994, while at the 75th percentile, they can reach up to $2,361. For those in the 90th percentile, the tax bill can be as high as $3,250. This range illustrates the variability in property tax burdens based on home value and other considerations. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates might impact homeowners differently. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Lake Of The Woods Tax Bill
$1,727
Average Kern County Tax Bill
$2,768
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Of The Woods, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
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 | |
|---|---|
| Kern Tax Assessor | |
| Website | www.kerncounty.com |