Mono City, California Property Taxes
The median property tax rate in Mono City, CA is 1.10%, which is higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $137,092 in Mono City, the typical annual property tax bill is $754, significantly below the national median of $2,690. Property taxes in Mono City are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mono 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 Mono City or another part of the area, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mono City, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,508
$1,424
Ownwell’s Mono City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mono City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mono City 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 Mono City, California
Property taxes in Mono City, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mono City is 1.10%, higher than the U.S. national median of 0.99%. Local government entities within Mono City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mono 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. The data below compares Mono City's effective property tax rate to other counties in California and the national median. For comparison, the 93541 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Mono City 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 Mono City Tax Rate
1.10%
Average Mono County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mono City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | 0.79% | 1.02% | 1.10% | 1.47% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Mono City, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mono City, CA. 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 Mono 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. For instance, the median home price in Mono City is $137,092. The 25th percentile tax bill is $626, and the 75th percentile tax bill is $2,260, while the 90th percentile tax bill reaches $5,215. The zip code 93541 has both the highest and lowest median tax bill at $754. Being aware of these valuation processes in Mono City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mono City Assessed Value
$137,092
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 Mono City, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | $29,747 | $49,957 | $137,092 | $476,135 | $636,777 |
Source: Ownwell
Property Tax Bills Across Mono City, California
In Mono City, CA, property tax bills are determined based on the assessed value of the property, which is typically a percentage of its market value. The tax rate in this region is influenced by various local factors, including municipal budgets and public service funding needs. Homeowners in Mono City can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $626, while the 75th percentile tax bill reaches $2,260, and the 90th percentile tax bill can be as high as $5,215. The median home price in Mono City is $137,092, and the highest and lowest median tax bills in the area are both $754, indicating a relatively consistent tax rate within the city. Compared to the national median property tax rate of 0.99%, Mono City’s property tax rates may present a unique financial landscape for homeowners, impacting their annual budgeting and long-term financial planning.
Average Mono City Tax Bill
$754
Average Mono County Tax Bill
$4,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Mono City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93541 | $377 | $626 | $754 | $2,260 | $5,215 |
Source: Ownwell