Chico, California Property Taxes
The median property tax rate in Chico, CA is 1.06%, 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 Chico, the typical annual property tax bill reaches $619, which is significantly below the national median of $2,690. Property taxes in Chico are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chico'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 Chico 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
Chico, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Chico Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chico with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chico 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 Chico, California
Property taxes in Chico, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chico is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Chico set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chico 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 Chico's effective property tax rate to other counties in California and the national median. For comparison, the 95973 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Chico provides valuable insights into the varying tax landscape across Tehama County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chico Tax Rate
1.06%
Average Tehama County Tax Rate
1.01%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chico, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95926 | N/A | N/A | N/A | N/A | N/A |
| 95973 | 0.96% | 0.99% | 1.06% | 1.07% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Chico, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chico, California. 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 Tehama 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 Chico, 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 Chico helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 95973 has the highest median tax bill at $620, while the lowest median tax bill is also in the same zip code at $620.
Average Chico Assessed Value
$66,073
Average Tehama County Assessed Value
$177,715
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chico, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95926 | N/A | N/A | N/A | N/A | N/A |
| 95973 | $24,334 | $43,186 | $66,073 | $177,856 | $256,793 |
Source: Ownwell
Property Tax Bills Across Chico, California
In Chico, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For instance, with a median home price of $66,073 in Chico, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $395, while at the 75th percentile, it rises to about $1,635. The highest median tax bill in the area is $620, which is notably lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by contributing to their annual expenses, influencing decisions on property investments, and affecting the overall cost of living. Understanding these factors helps homeowners budget effectively and anticipate future financial obligations.
Average Chico Tax Bill
$619
Average Tehama County Tax Bill
$1,477
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Chico, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95926 | N/A | N/A | N/A | N/A | N/A |
| 95973 | $220 | $418 | $620 | $1,681 | $2,460 |
Source: Ownwell