Magalia, California Property Taxes
The median property tax rate in Magalia, CA is 1.11%, 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 $139,912, the typical annual property tax bill in Magalia amounts to $1,496, which is below the national median of $2,690. Property taxes here 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 land. By understanding Magalia's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether residing in Magalia or investing in its real estate market, gaining insight into the local property tax structure is essential for financial planning and optimizing property-related expenses.
Last Updated June 14, 2024
Magalia, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,553
$1,467
Ownwell’s Magalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Magalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Magalia 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 Magalia, California
Property taxes in Magalia, California, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Magalia is 1.11%, higher than the U.S. national median of 0.99%. Local government entities within Magalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Magalia 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 Magalia's effective property tax rate to other areas in California and the national median. For comparison, the zip code 95954 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these areas compare with Magalia provides valuable insights into the varying tax landscape across Butte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Magalia Tax Rate
1.11%
Average Butte County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Magalia, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95954 | 1.00% | 1.07% | 1.11% | 1.12% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Magalia, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Magalia, 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 Butte County Assessor's Office 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 Magalia, 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 Magalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1496 in the 95954 zip code.
Average Magalia Assessed Value
$139,912
Average Butte County Assessed Value
$214,438
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Magalia, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95954 | $25,602 | $60,148 | $139,912 | $223,335 | $295,000 |
Source: Ownwell
Property Tax Bills Across Magalia, California
Property tax bills in Magalia, situated in Butte County, CA, are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value typically starts with the purchase price and can be adjusted annually based on market trends and improvements made to the property. In Magalia, the median home price stands at $139,912, and tax bills can vary significantly. The tax bill is influenced by multiple factors, including the property's assessed value and the local tax rate. For instance, the 25th percentile tax bill in Magalia is $583, while the 75th percentile tax bill reaches $2,514, and the 90th percentile tax bill can go up to $3,364. These variations reflect differences in property values and any applicable exemptions or additional levies. Compared to the national median property tax rate of 0.99%, homeowners in Magalia may find their tax bills to be relatively moderate, depending on their property's assessed value. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Magalia Tax Bill
$1,496
Average Butte County Tax Bill
$2,554
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Magalia, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95954 | $201 | $583 | $1,496 | $2,514 | $3,364 |
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 | |
|---|---|
| Butte Tax Assessor | |
| Website | assr.parcelquest.com |