Independence, California Property Taxes
The median property tax rate in Independence, CA is 1.09%, 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 $120,102, the typical annual property tax bill in Independence reaches $1,375, which is below the national median of $2,690. Property taxes in Independence are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Independence'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 Independence 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
Independence, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,309
$1,237
Ownwell’s Independence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Independence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Independence 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 Independence, California
Property taxes in Independence, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Independence is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within Independence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Independence 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 Independence's effective property tax rate to other counties in California and the national median. For comparison, the 93526 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Independence 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 Independence Tax Rate
1.09%
Average Inyo County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Independence, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93526 | 0.87% | 1.05% | 1.09% | 1.20% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Independence, California
In Independence, 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 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 Independence, 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 Independence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $1,375, specifically in the 93526 zip code.
Average Independence Assessed Value
$120,102
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 Independence, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93526 | $18,905 | $65,847 | $120,102 | $208,512 | $288,982 |
Source: Ownwell
Property Tax Bills Across Independence, California
In Independence, located in Inyo County, CA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is typically a percentage of the market value. Homeowners in Independence face varying property tax bills, with the 25th percentile tax bill at $875 and the 75th percentile reaching $2,194. For those in the 90th percentile, the tax bill can go up to $2,800. The median home price in Independence is $120,102, which significantly influences the property tax amount. Factors considered in determining the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the tax rates in Independence can be seen as relatively moderate. These taxes are crucial for funding essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Managing and understanding these taxes is essential for financial planning and homeownership in the area.
Average Independence Tax Bill
$1,375
Average Inyo County Tax Bill
$1,960
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Independence, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93526 | $317 | $875 | $1,375 | $2,194 | $2,800 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Inyo Tax Assessor | |
| Website | ca-inyo.publicaccessnow.com |