Portola Valley, California Property Taxes
The median property tax rate in Portola Valley, CA is 1.15%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Portola Valley at $1,937,884, the typical annual property tax bill reaches $22,472, significantly exceeding the national median of $2,690. Property taxes in Portola Valley are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Portola Valley'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 Portola Valley 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
Portola Valley, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$22,286
$21,047
$1,148
Average Portola Valley, California Tax Savings
Ownwell’s Portola Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portola Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portola Valley to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Portola Valley. 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 Portola Valley, California
Property taxes in Portola Valley, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portola Valley is 1.15%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Portola Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portola Valley 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 Portola Valley's effective property tax rate to other counties in California and the national median. For comparison, the 94028 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Portola Valley provides valuable insights into the varying tax landscape across San Mateo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portola Valley Tax Rate
1.15%
Average San Mateo County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portola Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94028 | 1.09% | 1.11% | 1.15% | 1.21% | 1.38% |
Source: Ownwell
$1,148
Average Portola Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Portola Valley, California
In Portola Valley, 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 San Mateo County Appraisal District 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 Portola Valley, 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 Portola Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Portola Valley's 94028 zip code, the median tax bill stands at $22,472, which is significantly higher than the national median property tax rate of 0.99%. This highlights the importance of understanding and managing property tax assessments in the region.
Property Tax Assessment Values Across Portola Valley, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Portola Valley Assessed Value
$1,937,884
Average San Mateo County Assessed Value
$685,382
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Portola Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94028 | $300,194 | $916,783 | $1,937,884 | $3,153,904 | $4,699,706 |
Source: Ownwell
$1,148
Average Portola Valley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Portola Valley, California
In Portola Valley, property tax bills are calculated based on the assessed value of the home, which is determined by the San Mateo County Assessor's Office. The assessed value typically starts at the purchase price and can increase by a maximum of 2% per year due to California's Proposition 13. The property tax rate in Portola Valley is 1.16%, slightly above the national median of 0.99%. Homeowners in Portola Valley face significant property tax bills due to the high median home price of $1,937,884. For instance, the 25th percentile tax bill is $11,168, while the 75th percentile reaches $35,728, and the 90th percentile soars to $52,525. These figures highlight the substantial financial burden on homeowners. Ownwell can assist homeowners in Portola Valley by providing property tax appeal and exemption services. By leveraging market data and expert analysis, Ownwell identifies opportunities to challenge and potentially reduce the assessed value, thereby lowering the tax bill. This targeted approach can result in significant savings for homeowners, easing their financial burden.
Average Portola Valley Tax Bill
$22,472
Average San Mateo County Tax Bill
$8,692
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Portola Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94028 | $4,045 | $11,168 | $22,472 | $35,728 | $52,525 |
Source: Ownwell
$1,148
Average Portola Valley Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | December 2 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| San Mateo Tax Assessor | |
| Website | county-taxes.net |
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