Torrance, California Property Taxes
The median property tax rate in Torrance, CA is 1.17%, which is considerably higher than the national median of 0.99% but slightly below the California state median of 1.21%. With the median home value in Torrance at $512,155, the typical annual property tax bill reaches $5,816, significantly exceeding the national median of $2,690. Property taxes in Torrance are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Torrance'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 Torrance 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
Torrance, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$5,992
$5,660
$1,148
Average Torrance, California Tax Savings
Ownwell’s Torrance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Torrance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Torrance 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 Torrance. 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 Torrance, California
Property taxes in Torrance, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Torrance is 1.17%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Torrance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Torrance 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 Torrance's effective property tax rate to other counties in California and the national median. For comparison, the 90502 zip code has the highest median property tax rate of 1.27%, while the 90503 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Torrance 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 Torrance 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 Torrance, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90501 | 1.13% | 1.15% | 1.19% | 1.26% | 1.41% |
| 90502 | 1.20% | 1.22% | 1.27% | 1.35% | 1.58% |
| 90503 | 1.13% | 1.14% | 1.15% | 1.19% | 1.34% |
| 90504 | 1.14% | 1.15% | 1.18% | 1.24% | 1.42% |
| 90505 | 1.13% | 1.14% | 1.16% | 1.20% | 1.34% |
Source: Ownwell
$1,148
Average Torrance Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Torrance, California
In Torrance, 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 Torrance, 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 Torrance helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Torrance is $6,852 in the 90505 zip code, while the lowest is $4,133 in the 90502 zip code.
Property Tax Assessment Values Across Torrance, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Torrance Assessed Value
$512,155
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 Torrance, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90501 | $149,451 | $306,687 | $514,333 | $733,820 | $909,224 |
| 90502 | $117,863 | $220,006 | $344,788 | $516,276 | $680,243 |
| 90503 | $155,282 | $360,552 | $586,324 | $849,866 | $1,049,184 |
| 90504 | $112,588 | $263,419 | $442,060 | $676,063 | $831,146 |
| 90505 | $154,765 | $357,532 | $613,474 | $936,402 | $1,212,933 |
Source: Ownwell
$1,148
Average Torrance Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Torrance, California
In Torrance, CA, property tax bills are calculated based on the assessed value of the home, which is determined by the Los Angeles County Assessor. This assessed value is then multiplied by the local tax rate, which varies but is generally around 1% of the home's market value. For instance, with a median home price of $512,155, homeowners can expect their tax bill to be around $5,122 annually, close to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property location and any applicable exemptions. In Torrance, the tax bill ranges significantly, from $3,443 at the 25th percentile to $10,962 at the 90th percentile. The highest median tax bill is $6,852 in the 90505 zip code, while the lowest is $4,133 in the 90502 zip code. Ownwell helps homeowners by identifying potential errors in property assessments and applying for applicable exemptions, ensuring that clients pay only their fair share. This expert assistance can result in significant savings on property tax bills.
Average Torrance Tax Bill
$5,816
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 Torrance, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90501 | $1,678 | $3,519 | $5,856 | $8,251 | $10,168 |
| 90502 | $1,477 | $2,697 | $4,133 | $5,987 | $7,915 |
| 90503 | $1,959 | $4,102 | $6,611 | $9,467 | $11,590 |
| 90504 | $1,561 | $3,095 | $5,087 | $7,577 | $9,243 |
| 90505 | $1,952 | $3,983 | $6,852 | $10,356 | $13,184 |
Source: Ownwell
$1,148
Average Torrance 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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