Clearlake Pk, California Property Taxes
The median property tax rate in Clearlake Park, CA is 1.26%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Clearlake Park, the typical annual property tax bill reaches $1,306, exceeding the national median of $2,690. Property taxes in Clearlake Park 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 Clearlake Park'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 Clearlake Park 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
Clearlake Pk, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,298
$1,204
Ownwell’s Clearlake Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clearlake Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clearlake Park 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 Clearlake Pk, California
Property taxes in Clearlake Park, California, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clearlake Park is 1.26%, higher than the U.S. national median of 0.99%. Local government entities within Clearlake Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clearlake Park 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 Clearlake Park's effective property tax rate to other areas in Lake County and the national median. For comparison, the 95424 zip code has the highest median property tax rate of 1.26%, while the 95424 zip code also has the lowest median tax rate of 1.26%. Understanding how these areas compare with Clearlake Park provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clearlake Pk Tax Rate
1.26%
Average Lake County Tax Rate
1.19%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clearlake Pk, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95424 | 1.18% | 1.21% | 1.26% | 1.41% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Clearlake Pk, California
In Clearlake Park, 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 Lake 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 Clearlake Park, 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 Clearlake Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 95424, with a median tax bill of $1,306.
Property Tax Assessment Values Across Clearlake Pk, California
Source: Ownwell
$26,402
$160,953
$295,503
Average Clearlake Pk Assessed Value
$103,004
Average Lake County Assessed Value
$206,366
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clearlake Pk, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95424 | $32,936 | $54,615 | $103,004 | $153,409 | $216,678 |
Source: Ownwell
Property Tax Bills Across Clearlake Pk, California
In Clearlake Park, Lake County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically reflects the market value of the property at the time of purchase, with annual adjustments for inflation not exceeding 2%. Homeowners in Clearlake Park face a median property tax bill of $1,306, which aligns with the highest and lowest median tax bills in the area. This amount is notably higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value and applicable local tax rates. For instance, homes in the 25th percentile have tax bills around $836, while those in the 75th percentile reach approximately $1,912. At the 90th percentile, tax bills can soar to $2,571. These property taxes fund essential local services such as schools, infrastructure, and emergency services, significantly impacting homeowners' annual expenses and overall cost of living in Clearlake Park.
Average Clearlake Pk Tax Bill
$1,306
Average Lake County Tax Bill
$2,425
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Clearlake Pk, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95424 | $500 | $836 | $1,306 | $1,912 | $2,571 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Lake Tax Assessor | |
| Website | common2.mptsweb.com |