Canyon Dam, California Property Taxes
The median property tax rate in Canyon Dam, CA is 1.09%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $159,036 in Canyon Dam, the typical annual property tax bill amounts to $1,705, which is below the national median of $2,690. Property taxes in Canyon Dam are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Canyon Dam'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 Canyon Dam 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
Canyon Dam, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,733
$1,637
Ownwell’s Canyon Dam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canyon Dam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canyon Dam 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 Canyon Dam, California
Property taxes in Canyon Dam, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canyon Dam is 1.09%, notably higher than the U.S. national median of 0.99%. Local government entities within Canyon Dam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canyon Dam 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 Canyon Dam's effective property tax rate to other areas in California and the national median. For comparison, the zip code 95923 has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Canyon Dam provides valuable insights into the varying tax landscape across Plumas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canyon Dam Tax Rate
1.09%
Average Plumas County Tax Rate
1.09%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canyon Dam, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95923 | 1.06% | 1.08% | 1.09% | 1.12% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Canyon Dam, California
In Canyon Dam, 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 Plumas County authorities 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 Canyon Dam, 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 Canyon Dam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Canyon Dam is $159,036, with tax bills ranging from $1,098 at the 25th percentile to $4,082 at the 90th percentile. The highest and lowest median tax bills are both $1,705 in the 95923 zip code.
Average Canyon Dam Assessed Value
$159,036
Average Plumas County Assessed Value
$216,793
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canyon Dam, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95923 | $39,254 | $97,015 | $159,036 | $266,958 | $390,105 |
Source: Ownwell
Property Tax Bills Across Canyon Dam, California
In Canyon Dam, CA, property tax bills are calculated based on the assessed value of the property, which is often determined by the purchase price and adjusted annually for inflation. The assessed value is then multiplied by the local tax rate set by Plumas County. For instance, with a median home price of $159,036, homeowners in Canyon Dam can expect varying tax bills. The 25th percentile tax bill is around $1,098, while those in the 75th percentile might pay approximately $2,833. At the 90th percentile, tax bills can rise to about $4,082. Factors influencing these tax bills include property improvements, changes in the local tax rate, and any applicable exemptions. These taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners should be aware that their tax bills can fluctuate based on these factors, impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, residents of Canyon Dam may find their property tax rates to be relatively moderate.
Average Canyon Dam Tax Bill
$1,705
Average Plumas County Tax Bill
$2,335
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Canyon Dam, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95923 | $408 | $1,098 | $1,705 | $2,833 | $4,082 |
Source: Ownwell