Thermal, California Property Taxes
The median property tax rate in Thermal, CA is 1.99%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Thermal, the typical annual property tax bill reaches $1,816, which is below the national median of $2,690. Property taxes in Thermal 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 Thermal'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 Thermal 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
Thermal, 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 Thermal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thermal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thermal 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 Thermal, California
Property taxes in Thermal, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thermal is 1.99%, significantly higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Thermal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thermal 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 Thermal's effective property tax rate to other counties in California and the national median. For comparison, the 92274 zip code has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Thermal provides valuable insights into the varying tax landscape across Imperial County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thermal Tax Rate
1.99%
Average Imperial County Tax Rate
1.13%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | 1.32% | 1.55% | 1.99% | 2.64% | 3.70% |
Source: Ownwell
Property Tax Assessment Values Across Thermal, California
In Thermal, 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 Imperial 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 Thermal, 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. The median home price in Thermal is $81,069, with tax bills ranging from $1,164 at the 25th percentile to $3,289 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,816, found in the 92274 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thermal Assessed Value
$81,069
Average Imperial County Assessed Value
$178,448
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | $21,655 | $43,410 | $81,069 | $144,744 | $200,400 |
Source: Ownwell
Property Tax Bills Across Thermal, California
In Thermal, located in Imperial County, CA, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is often a percentage of the market value, and in California, this is typically set at 1% of the property's market value, with additional local taxes and assessments possibly adding to the total. Homeowners in Thermal can expect their property tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $1,164, while the 75th percentile sees tax bills reaching up to $2,545. Those in the 90th percentile face even higher amounts, with bills around $3,289. The median home price in Thermal stands at $81,069, which influences the overall tax burden. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Thermal's property taxes reflect the unique economic and market conditions of the area, impacting homeowners' financial planning and property management.
Average Thermal Tax Bill
$1,816
Average Imperial County Tax Bill
$2,053
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | $435 | $1,164 | $1,816 | $2,545 | $3,289 |
Source: Ownwell