Lotus, California Property Taxes
The median property tax rate in Lotus, CA is 1.04%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value in Lotus of $363,614, the typical annual property tax bill amounts to $3,659, surpassing the national median of $2,690. Property taxes in Lotus are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lotus'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 Lotus or another part of El Dorado County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lotus, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,782
$3,509
Ownwell’s Lotus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lotus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lotus 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 Lotus, California
Property taxes in Lotus, California, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lotus is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Lotus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lotus 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 Lotus's effective property tax rate to other counties in California and the national median. For comparison, the 95651 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Lotus provides valuable insights into the varying tax landscape across El Dorado County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lotus Tax Rate
1.04%
Average El Dorado County Tax Rate
1.07%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lotus, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95651 | 1.03% | 1.03% | 1.04% | 1.06% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Lotus, California
In Lotus, 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 El Dorado 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 Lotus, 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 Lotus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Lotus is 95651, with a median tax bill of $3,659.
Average Lotus Assessed Value
$363,614
Average El Dorado County Assessed Value
$402,842
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lotus, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95651 | $123,995 | $217,198 | $363,614 | $559,128 | $781,712 |
Source: Ownwell
Property Tax Bills Across Lotus, California
Property tax bills in Lotus, El Dorado County, CA are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, market conditions, and local tax rates play significant roles in determining the final tax amount. For homeowners, this means that fluctuations in the real estate market can directly impact their property tax bills. In Lotus, the median home price stands at $363,614. Property tax bills vary widely, with the 25th percentile at $2,243 and the 75th percentile at $5,747. At the 90th percentile, homeowners might see tax bills as high as $8,098. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Lotus to stay informed about local assessments and potential exemptions to manage their property tax liabilities effectively.
Average Lotus Tax Bill
$3,659
Average El Dorado County Tax Bill
$4,236
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Lotus, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95651 | $1,446 | $2,243 | $3,659 | $5,747 | $8,098 |
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 | |
|---|---|
| El Dorado Tax Assessor | |
| Website | parcel.edcgov.us |