Studio City, California Property Taxes
The median property tax rate in Studio City, CA is 1.17%, which is higher than both the national median of 0.99% and the California state median of 1.21%. With a median home value of $807,209, the typical annual property tax bill in Studio City reaches $9,204, significantly exceeding the national median of $2,690. Property taxes in Studio City are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences. Understanding Studio City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Studio City or another part of Los Angeles County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Studio City, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$9,444
$8,919
$1,148
Average Studio City, California Tax Savings
Ownwell’s Studio City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Studio City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Studio City 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 Studio City. 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 Studio City, California
Property taxes in Studio City, California, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Studio City is 1.17%, which is higher than the U.S. national median of 0.99%. Local government entities within Studio City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Studio City 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. For comparison, the 91607 zip code has the highest median property tax rate of 1.19%, while the 91604 zip code has the lowest median tax rate of 1.17%. Understanding how these cities compare with Studio City provides valuable insights into the varying tax landscape across Los Angeles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Studio City Tax Rate
1.17%
Average Los Angeles County Tax Rate
1.24%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Studio City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91604 | 1.16% | 1.16% | 1.17% | 1.20% | 1.26% |
| 91607 | 1.16% | 1.17% | 1.19% | 1.27% | 1.36% |
Source: Ownwell
$1,148
Average Studio City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Studio City, California
In Studio City, 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 Los Angeles 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 Studio City, 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 Studio City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Studio City, the median home price is $807,209. The zip code with the highest median tax bill is 91607 at $9,916, while the lowest is 91604 at $9,204.
Property Tax Assessment Values Across Studio City, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Studio City Assessed Value
$807,209
Average Los Angeles County Assessed Value
$434,238
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Studio City, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91604 | $246,314 | $489,841 | $806,826 | $1,424,189 | $2,269,369 |
| 91607 | $182,327 | $380,496 | $837,084 | $1,219,968 | $2,239,759 |
Source: Ownwell
$1,148
Average Studio City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Studio City, California
In Studio City, CA, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Studio City is $807,209, and the tax rate in Los Angeles County is 1.25%, higher than the national median of 0.99%. This results in a median tax bill ranging from $5,600 at the 25th percentile to $25,266 at the 90th percentile, with the highest median tax bill reaching $9,916 in ZIP code 91607 and the lowest at $9,204 in ZIP code 91604. Factors that influence the tax bill include property improvements, changes in market conditions, and local tax rates. High property taxes can significantly impact homeowners, leading to increased financial burdens. Ownwell can assist homeowners by providing expert property tax appeal and exemption services, ensuring that properties are fairly assessed. By leveraging local market knowledge and legal expertise, Ownwell can help homeowners potentially reduce their tax bills, offering substantial savings and easing the financial strain.
Average Studio City Tax Bill
$9,204
Average Los Angeles County Tax Bill
$5,343
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Studio City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91604 | $2,938 | $5,601 | $9,204 | $15,910 | $25,266 |
| 91607 | $2,485 | $4,754 | $9,916 | $14,287 | $25,968 |
Source: Ownwell
$1,148
Average Studio City 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 | |
|---|---|
| Los Angeles Tax Assessor | |
| Phone | (213) 974-3211 |
| Website | portal.assessor.lacounty.gov |
| pio@assessor.lacounty.gov | |
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