Thousand Palms, California Property Taxes
The median property tax rate in Thousand Palms, CA is 1.57%, significantly higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Thousand Palms, the typical annual property tax bill reaches $2,147, which, while below the national median of $2,690, still represents a substantial expense for homeowners. Property taxes in Thousand Palms 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 Thousand Palms' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Thousand Palms 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
Thousand Palms, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$2,096
$1,979
Ownwell’s Thousand Palms Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Thousand Palms with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Thousand Palms 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 Riverside County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thousand Palms, California
Property taxes in Thousand Palms, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thousand Palms is 1.57%, significantly higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Thousand Palms set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thousand Palms 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 Thousand Palms' effective property tax rate to other counties in California and the national median. For comparison, the 92276 zip code has the highest median property tax rate of 1.57%, while the same zip code also represents the lowest median tax rate of 1.57%. Understanding how these cities compare with Thousand Palms provides valuable insights into the varying tax landscape across Riverside County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thousand Palms Tax Rate
1.57%
Average Riverside County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thousand Palms, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92276 | 1.29% | 1.42% | 1.57% | 1.84% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Thousand Palms, California
In Thousand Palms, 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 Riverside 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 Thousand Palms, 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 Thousand Palms helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Thousand Palms, the median home price is $133,482, with median tax bills ranging from $1,365 at the 25th percentile to $4,280 at the 90th percentile. The zip code 92276 has the highest median tax bill of $2,147.
Property Tax Assessment Values Across Thousand Palms, California
Source: Ownwell
$3,614
$924,392
$1,845,170
Average Thousand Palms Assessed Value
$133,482
Average Riverside County Assessed Value
$321,125
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thousand Palms, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92276 | $49,441 | $78,627 | $133,482 | $213,282 | $296,660 |
Source: Ownwell
Property Tax Bills Across Thousand Palms, California
In Thousand Palms, located in Riverside County, CA, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is established by the county assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Thousand Palms, the median home price is $133,482. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,365 and the 75th percentile reaching $3,117. The 90th percentile tax bill can be as high as $4,280. The highest median tax bill in the area is $2,147, which is consistent across the zip code 92276. These property taxes are essential for funding local services, including schools, public safety, and infrastructure. However, they can also represent a significant financial burden for homeowners, especially those with higher property values or those who fall into higher tax brackets.
Average Thousand Palms Tax Bill
$2,147
Average Riverside County Tax Bill
$4,079
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Thousand Palms, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92276 | $968 | $1,365 | $2,147 | $3,117 | $4,280 |
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 |
Links | |
|---|---|
| Riverside Tax Assessor | |
| Website | ca-riverside-acr.publicaccessnow.com |