Palermo, California Property Taxes
The median property tax rate in Palermo, CA is 1.11%, which is higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $82,844 in Palermo, the typical annual property tax bill amounts to $836, which is significantly below the national median of $2,690. Property taxes in Palermo are calculated based on the assessed value, often lower than market value due to exemptions such as those for primary residences and agricultural properties. Understanding Palermo'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 Palermo or another part of Butte County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palermo, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$920
$853
Ownwell’s Palermo Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Palermo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palermo to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, offering peace of mind and financial clarity. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Palermo, California
Property taxes in Palermo, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palermo is 1.11%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Palermo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palermo 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 Palermo's effective property tax rate to other counties in California and the national median. For comparison, the 95968 zip code has the highest median property tax rate of 1.11%, while the 95968 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Palermo 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 Palermo 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 Palermo, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95968 | 1.02% | 1.07% | 1.11% | 1.14% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Palermo, California
In Palermo, 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 Butte 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. Assessment notices in Palermo 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 Palermo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 95968 has the highest and lowest median tax bill, both at $836.
Average Palermo Assessed Value
$82,844
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 Palermo, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95968 | $16,361 | $42,388 | $82,844 | $153,107 | $250,000 |
Source: Ownwell
Property Tax Bills Across Palermo, California
In Palermo, property tax bills are calculated based on the assessed value of a home, which is determined by the Butte County Assessor's Office. The median home price in Palermo is $82,844, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. For homeowners in Palermo, tax bills can vary significantly. For instance, at the 25th percentile, homeowners might pay around $360, while those at the 75th percentile could see bills as high as $1,665. The top 10% of taxpayers might face tax bills reaching up to $2,865. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Palermo's rate ensures that homeowners contribute fairly to the community while reflecting the relatively lower property values in the area.
Average Palermo Tax Bill
$836
Average Butte County Tax Bill
$2,554
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Palermo, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95968 | $130 | $360 | $836 | $1,665 | $2,865 |
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 |