Lower Lake, California Property Taxes
The median property tax rate in Lower Lake, CA is 1.20%, which is higher than the national median of 0.99% but slightly below the California state median of 1.21%. With a median home value of $235,642 in Lower Lake, the typical annual property tax bill is about $2,770, surpassing the national median of $2,690. Property taxes in Lower Lake are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Lower Lake's property tax system, exploring available exemptions, and finding opportunities for reductions can result in significant yearly savings. Whether residing in the core of Lower Lake or its surrounding areas, familiarizing oneself with the local property tax structure is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Lower Lake, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,828
$2,624
Ownwell’s Lower Lake Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lower Lake with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lower Lake to project your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Lower Lake, California
Property taxes in Lower Lake, California, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lower Lake is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lower Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lower 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 Lower Lake's effective property tax rate to other counties in California and the national median. For comparison, the 95457 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Lower Lake 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 Lower Lake Tax Rate
1.20%
Average Lake County Tax Rate
1.19%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lower Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95457 | 1.15% | 1.17% | 1.20% | 1.29% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Lower Lake, California
In Lower Lake, 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'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 Lower 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. 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 Lower Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 95457 zip code, with a value of $2,770.
Average Lower Lake Assessed Value
$235,642
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 Lower Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95457 | $48,351 | $105,445 | $235,642 | $382,335 | $599,760 |
Source: Ownwell
Property Tax Bills Across Lower Lake, California
In Lower Lake, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the Lake County Assessor's Office. The assessed value is typically a percentage of the property's market value, and homeowners in Lower Lake can expect their tax rate to align with California's overall property tax rates. For instance, the median home price in Lower Lake is $235,642. Various factors influence the final tax bill, including the property's location, any applicable exemptions, and local tax rates. Homeowners in Lower Lake might see a wide range of tax bills. For example, the tax bill at the 25th percentile is around $1,293, while it can soar to $4,477 at the 75th percentile and even reach $6,999 at the 90th percentile. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lower Lake Tax Bill
$2,770
Average Lake County Tax Bill
$2,425
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Lower Lake, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95457 | $673 | $1,293 | $2,770 | $4,477 | $6,999 |
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 |