Likely, California Property Taxes
The median property tax rate in Likely, CA is 1.05%, 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 Likely at $126,654, the typical annual property tax bill reaches $1,263, which is below the national median of $2,690. Property taxes in Likely are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Likely'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 Likely or another part of Modoc County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Likely, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,330
$1,256
Ownwell’s Likely Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Likely with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Likely 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 Likely, California
Property taxes in Likely, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Likely is 1.05%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Likely set these rates annually, and they can vary significantly across different neighborhoods. Each year, Likely 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 Likely's effective property tax rate to other counties in California and the national median. For comparison, the 96116 zip code has both the highest and lowest median property tax rate of 1.06%. Understanding how these cities compare with Likely provides valuable insights into the varying tax landscape across Modoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Likely Tax Rate
1.05%
Average Modoc County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Likely, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96116 | 0.98% | 1.00% | 1.06% | 1.19% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Likely, California
In Likely, 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 Modoc County Appraisal District 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 Likely, 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. For example, the median home price in Likely is $126,654, with property tax bills ranging from $749 at the 25th percentile to $2,987 at the 75th percentile. The highest and lowest median tax bills are both $1,087 in the 96116 zip code. 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 Likely helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Likely Assessed Value
$126,654
Average Modoc County Assessed Value
$83,080
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Likely, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96116 | $33,454 | $57,484 | $94,646 | $233,159 | $325,824 |
Source: Ownwell
Property Tax Bills Across Likely, California
In Likely, Modoc County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the market value of the property. Homeowners in Likely can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $749 and the 75th percentile reaching $2,987, while the 90th percentile can go up to $4,052. These figures illustrate the range of property tax burdens that homeowners may face. Several factors influence the final tax bill, including property improvements, location, and any applicable exemptions. For instance, properties in zip code 96116 have a median tax bill of $1,087, which is the highest and lowest median tax bill in the area. Compared to the national median property tax rate of 0.99%, homeowners in Likely may find their tax rates to be either higher or lower depending on these various factors, ultimately affecting their annual financial planning.
Average Likely Tax Bill
$1,263
Average Modoc County Tax Bill
$948
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Likely, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96116 | $359 | $707 | $1,087 | $2,394 | $3,363 |
Source: Ownwell