Potter Valley, California Property Taxes
The median property tax rate in Potter Valley, CA is 1.15%, which is considerably higher than the national median of 0.99% but slightly below the California state median of 1.21%. With the median home value in Potter Valley at $151,036, the typical annual property tax bill reaches $1,729, falling below the national median of $2,690. Property taxes in Potter Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Potter Valley'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 Potter Valley 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
Potter Valley, 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 Potter Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Potter Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Potter Valley 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 Potter Valley, California
Property taxes in Potter Valley, California, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Potter Valley is 1.15%, which is significantly higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Potter Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Potter Valley 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 Potter Valley's effective property tax rate to other counties in California and the national median. For comparison, the zip code 95469 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Potter Valley 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 Potter Valley Tax Rate
1.15%
Average Lake County Tax Rate
1.19%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Potter Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95469 | 1.11% | 1.13% | 1.15% | 1.16% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Potter Valley, California
In Potter Valley, 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 Potter Valley, 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. The median home price in Potter Valley is $151,036, with tax bills ranging from $1,286 at the 25th percentile to $3,502 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,729, found in the 95469 zip code. 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 Potter Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Potter Valley, California
Source: Ownwell
$26,402
$160,953
$295,503
Average Potter Valley Assessed Value
$151,036
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 Potter Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95469 | $65,809 | $112,351 | $151,036 | $217,476 | $310,660 |
Source: Ownwell
Property Tax Bills Across Potter Valley, California
In Potter Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Potter Valley can expect their tax bills to vary significantly, with the 25th percentile at $1,286 and the 75th percentile reaching $2,451. For those in the 90th percentile, the tax bill can be as high as $3,502. These values indicate a range of property taxes that can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Potter Valley's property taxes reflect the local real estate market and assessment practices. Homeowners should be aware of these factors as they can significantly affect annual tax obligations and overall financial planning.
Average Potter Valley Tax Bill
$1,729
Average Lake County Tax Bill
$2,425
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Potter Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95469 | $788 | $1,286 | $1,729 | $2,451 | $3,502 |
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 |