Oak Park, California Property Taxes
The median property tax rate in Oak Park, CA is 1.33%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Oak Park at $608,270, the typical annual property tax bill reaches $7,953, exceeding the national median of $2,690. Property taxes in Oak Park 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 Oak Park'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 Oak Park 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
Oak Park, 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 OAK PARK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OAK PARK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OAK PARK 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 Oak Park, California
Property taxes in Oak Park, California, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Oak Park is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Oak Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Park estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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. Understanding how Oak Park's effective property tax rate compares to other areas in Ventura County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Park Tax Rate
1.33%
Average Ventura County Tax Rate
1.13%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91377 | 1.23% | 1.27% | 1.33% | 1.42% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Oak Park, California
In Oak Park, California, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. For tax purposes, this value is estimated by the Ventura County Assessor. Conversely, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. This assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Oak Park, 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 Oak Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oak Park is $608,270, with median tax bills ranging from $5,663 at the 25th percentile to $14,360 at the 90th percentile. The zip code 91377 has the highest and lowest median tax bill at $7,953.
Average Oak Park Assessed Value
$608,270
Average Ventura County Assessed Value
$465,193
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Park, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91377 | $225,258 | $403,123 | $608,270 | $897,849 | $1,192,085 |
Source: Ownwell
Property Tax Bills Across Oak Park, California
In Oak Park, CA, property tax bills are calculated based on the assessed value of a home, which is often a percentage of the market value. The tax rate in Oak Park is influenced by various factors, including local government budgets, public services, and school funding needs. The median home price in Oak Park is $608,270, which significantly impacts the overall tax bill. For homeowners, the 25th percentile tax bill is around $5,663, while those in the 75th percentile pay approximately $11,263. At the higher end, the 90th percentile tax bill can reach up to $14,360. These figures indicate a broad range of property tax obligations, depending on the assessed value of the property. Compared to the national median property tax rate of 0.99%, Oak Park's property taxes can be considered relatively high. Homeowners in Oak Park should be prepared for these costs, which contribute to essential community services and infrastructure. Understanding these factors can help homeowners better manage their financial planning and property investments.
Average Oak Park Tax Bill
$7,953
Average Ventura County Tax Bill
$5,207
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91377 | $3,606 | $5,663 | $7,953 | $11,263 | $14,360 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Ventura Tax Assessor | |
| Website | assessor.countyofventura.org |