Hanford, California Property Taxes
The median property tax rate in Hanford, CA is 1.08%, which is higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Hanford at $217,260, the typical annual property tax bill amounts to $2,159, which is below the national median of $2,690. Property taxes in Hanford are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hanford'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 Hanford 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
Hanford, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,346
$2,177
Ownwell’s Hanford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hanford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanford 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 Hanford, California
Property taxes in Hanford, California, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanford is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Hanford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanford 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 Hanford's effective property tax rate to other counties in California and the national median. For comparison, the 93230 zip code has both the highest and lowest median property tax rate of 1.08%. Understanding how these areas compare with Hanford provides valuable insights into the varying tax landscape across Kings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanford Tax Rate
1.08%
Average Kings County Tax Rate
1.08%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanford, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93230 | 0.95% | 1.04% | 1.08% | 1.09% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Hanford, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hanford, 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 Kings County Assessor's Office 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 Hanford, 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 instance, the median home price in Hanford is $217,260, with tax bills ranging from $1,263 at the 25th percentile to $4,243 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hanford Assessed Value
$217,260
Average Kings County Assessed Value
$196,084
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanford, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93230 | $79,097 | $133,312 | $217,260 | $309,493 | $399,900 |
Source: Ownwell
Property Tax Bills Across Hanford, California
Property tax bills in Hanford, Kings County, CA, are calculated based on the assessed value of a property, which is determined by the Kings County Assessor's Office. The assessed value is typically a percentage of the market value of the home. For Hanford, the median home price is $217,260. Property taxes are then applied using the local tax rate, which can vary but is generally influenced by the county's budgetary needs and voter-approved measures. The tax bill homeowners receive can vary widely. For instance, the 25th percentile tax bill in Hanford is $1,263, while the 75th percentile tax bill is $3,189, and the 90th percentile tax bill reaches $4,243. These figures indicate that property taxes can significantly impact household budgets, with some homeowners paying considerably more than others based on their property's assessed value. Comparing these figures to the national median property tax rate of 0.99%, Hanford's property tax bills can be seen as relatively moderate, though they can still pose a financial burden for some residents.
Average Hanford Tax Bill
$2,159
Average Kings County Tax Bill
$1,988
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanford, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93230 | $688 | $1,263 | $2,159 | $3,189 | $4,243 |
Source: Ownwell