Bishop, California Property Taxes
The median property tax rate in Bishop, CA is 1.02%, 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 $248,169 in Bishop, the typical annual property tax bill amounts to $2,503, which is below the national median of $2,690. Property taxes in Bishop are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bishop'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 Bishop 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
Bishop, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,531
$2,349
Ownwell’s Bishop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bishop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bishop 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 Bishop, California
Property taxes in Bishop, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bishop is 1.02%, higher than the U.S. national median of 0.99%. Local government entities within Bishop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bishop 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 Bishop's effective property tax rate to other areas in California and the national median. For comparison, the 93514 zip code has both the highest and lowest median property tax rate of 1.02%. Understanding how these cities compare with Bishop provides valuable insights into the varying tax landscape across Inyo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bishop Tax Rate
1.02%
Average Inyo County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bishop, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | 0.67% | 0.98% | 1.02% | 1.04% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Bishop, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bishop, 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 Inyo 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 Bishop, 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 Bishop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 93514 has the highest median tax bill at $2,503, while the lowest median tax bill in the same zip code is also $2,503.
Average Bishop Assessed Value
$248,169
Average Inyo County Assessed Value
$188,456
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bishop, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | $11,806 | $50,636 | $248,169 | $413,646 | $557,507 |
Source: Ownwell
Property Tax Bills Across Bishop, California
In Bishop, located in Inyo County, CA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Bishop is $248,169. The property tax rate in this area is applied to the assessed value to determine the annual tax bill. For homeowners, this means that the tax bill can vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is $737, while the 75th percentile tax bill is $3,986, and the 90th percentile tax bill can go up to $5,243. These figures highlight the range of property tax obligations that homeowners might face. Compared to the national median property tax rate of 0.99%, homeowners in Bishop might find their tax bills relatively manageable, but it still represents a significant expense that must be planned for annually. This variability can affect homeowners' budgeting and long-term financial planning.
Average Bishop Tax Bill
$2,503
Average Inyo County Tax Bill
$1,960
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Bishop, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | $115 | $737 | $2,503 | $3,986 | $5,243 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
|---|
Links | |
|---|---|
| Inyo Tax Assessor | |
| Website | ca-inyo.publicaccessnow.com |