Little Lake, California Property Taxes
The median property tax rate in Little Lake, CA is 0.95%, which is slightly below the national median of 0.99% and significantly lower than the California state median of 1.21%. With a median home value of $11,201 in Little Lake, the typical annual property tax bill amounts to $71, far below the national median of $2,690. Property taxes in Little Lake 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 Little Lake'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 Little Lake 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
Little Lake, 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 Little Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Lake 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 Little Lake, California
Property taxes in Little Lake, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Lake is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Little Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Lake 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 Little Lake's effective property tax rate to other regions and the national median. For comparison, the zip code 93542 has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Little Lake 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 Little Lake Tax Rate
0.95%
Average Inyo County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93542 | 0.61% | 0.61% | 0.95% | 2.73% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Little Lake, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Little Lake, CA. 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 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 Little Lake, 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. For example, in the zip code with the highest tax bills, homeowners pay around $323 annually, whereas in the zip code with the lowest tax bills, the amount is about $69 annually. 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 Little Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Little Lake Assessed Value
$11,201
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 Little Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93542 | $2,840 | $8,461 | $11,201 | $11,201 | $30,904 |
Source: Ownwell
Property Tax Bills Across Little Lake, California
In Little Lake, located in Inyo County, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. In this region, property taxes are influenced by various factors, including the property's location, size, and any improvements made. For homeowners in Little Lake, property tax bills can vary significantly. For instance, those at the 25th percentile pay around $69, while those at the 75th percentile face bills of approximately $231. At the higher end, the 90th percentile sees tax bills reaching up to $323. These figures highlight the range of tax burdens homeowners might experience based on their property's assessed value. Compared to the national median property tax rate of 0.99%, the tax rates in Little Lake may seem relatively modest, but they still represent a significant annual expense for homeowners. Understanding these factors can help property owners better anticipate their financial obligations and plan accordingly.
Average Little Lake Tax Bill
$71
Average Inyo County Tax Bill
$1,960
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93542 | $69 | $69 | $71 | $231 | $323 |
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 |