Lee Vining, California Property Taxes
The median property tax rate in Lee Vining, CA is 1.04%, slightly higher than the national median of 0.99% but lower than California's state median of 1.21%. With a median home value in Lee Vining of $243,555, the typical annual property tax bill is around $2,453, which is below the national median of $2,690. Property taxes in Lee Vining are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lee Vining'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 Lee Vining or another part of Mono County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lee Vining, 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 Lee Vining Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lee Vining with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lee Vining 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 Lee Vining, California
Property taxes in Lee Vining, California, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lee Vining is 1.04%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Lee Vining set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lee Vining 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 Lee Vining's effective property tax rate to other areas and the national median. For comparison, the zip code 93541 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how Lee Vining compares with other regions provides valuable insights into the varying tax landscape across Mono County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lee Vining Tax Rate
1.04%
Average Mono County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lee Vining, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | 0.94% | 1.03% | 1.04% | 1.07% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Lee Vining, California
In Lee Vining, 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 Mono 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 Lee Vining, 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 Lee Vining helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 93541 has both the highest and lowest median tax bills at $2,453, reflecting the uniformity in property tax assessments in the area.
Average Lee Vining Assessed Value
$243,555
Average Mono County Assessed Value
$402,900
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lee Vining, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | $77,412 | $161,345 | $243,555 | $357,398 | $544,709 |
Source: Ownwell
Property Tax Bills Across Lee Vining, California
In Lee Vining, located in Mono County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is typically a percentage of the market value of the property. Homeowners in Lee Vining face property tax bills that vary significantly, with the 25th percentile tax bill at $1,437 and the 75th percentile at $3,474. The highest median tax bill in the area is $2,453, which aligns with the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, these tax bills represent a significant annual expense that can impact their overall financial planning. Higher property taxes can affect the affordability of homeownership, while lower taxes can make it more manageable. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Lee Vining Tax Bill
$2,453
Average Mono County Tax Bill
$4,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Lee Vining, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | $551 | $1,437 | $2,453 | $3,474 | $4,733 |
Source: Ownwell