Del Rey Oaks, California Property Taxes
The median property tax rate in Del Rey Oaks, CA is 1.10%, slightly above the national median of 0.99% but below the California state median of 1.21%. With a median home value of $257,539, the typical annual property tax bill in Del Rey Oaks amounts to $2,831, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Del Rey Oaks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Del Rey Oaks or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Del Rey Oaks, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,833
$2,675
Ownwell’s Del Rey Oaks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Del Rey Oaks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Del Rey Oaks 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 Del Rey Oaks, California
Property taxes in Del Rey Oaks, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Del Rey Oaks is 1.10%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Del Rey Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Del Rey Oaks 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 Del Rey Oaks's effective property tax rate to other counties in California and the national median. For comparison, the 93940 zip code has the highest median property tax rate of 1.10%, while the 93940 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Del Rey Oaks provides valuable insights into the varying tax landscape across Monterey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Del Rey Oaks Tax Rate
1.10%
Average Monterey County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Del Rey Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93940 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Del Rey Oaks, California
In Del Rey Oaks, 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 Monterey 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 Del Rey Oaks, 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 Del Rey Oaks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,831, found in the 93940 zip code.
Property Tax Assessment Values Across Del Rey Oaks, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Del Rey Oaks Assessed Value
$257,539
Average Monterey County Assessed Value
$410,665
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Del Rey Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93940 | $257,539 | $257,539 | $257,539 | $257,539 | $257,539 |
Source: Ownwell
Property Tax Bills Across Del Rey Oaks, California
In Del Rey Oaks, located in Monterey County, CA, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the Monterey County Assessor's Office and is typically based on the purchase price of the home, adjusted annually for inflation. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Del Rey Oaks, the median home price stands at $257,539. Despite this relatively moderate home price, the median property tax bill is notably high at $2,831. This figure is consistent across the 25th, 75th, and 90th percentiles, indicating a uniformity in tax bills within the region. Notably, the highest and lowest median tax bills both align at $2,831, reflecting a standardized approach in tax assessments. Compared to the national median property tax rate of 0.99%, Del Rey Oaks residents face a higher effective tax rate, impacting affordability and potentially influencing home buying decisions. Understanding these factors is crucial for homeowners to budget effectively and anticipate future tax obligations.
Average Del Rey Oaks Tax Bill
$2,831
Average Monterey County Tax Bill
$4,500
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Del Rey Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93940 | $2,831 | $2,831 | $2,831 | $2,831 | $2,831 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
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