Richmond, California Property Taxes
The median property tax rate in Richmond, CA is 1.00%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Richmond at $249,268, the typical annual property tax bill is $2,448, which is below the national median of $2,690. Property taxes in Richmond are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences. Understanding Richmond'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 Richmond 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
Richmond, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,493
$2,354
Ownwell’s Richmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richmond 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 Richmond, California
Property taxes in Richmond, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richmond is 1.00%, slightly above the U.S. national median of 0.99%. Local government entities within Richmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richmond 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 Richmond's effective property tax rate to other counties in California and the national median. For comparison, the 94801 ZIP code has the highest median property tax rate of 1.00%, while the 96130 ZIP code has the lowest median tax rate of 1.00%. Understanding how these cities compare with Richmond provides valuable insights into the varying tax landscape across Lassen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richmond Tax Rate
1.00%
Average Lassen County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richmond, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94801 | 0.98% | 0.99% | 1.00% | 1.06% | 1.15% |
| 96130 | 0.98% | 1.00% | 1.00% | 1.01% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Richmond, California
In Richmond, 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 local 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 Richmond, 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 Richmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Richmond, the highest median tax bill is $3,615 in the 94801 zip code, while the lowest median tax bill is $1,633 in the 96130 zip code.
Average Richmond Assessed Value
$249,268
Average Lassen County Assessed Value
$145,778
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richmond, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94801 | $82,404 | $225,767 | $337,156 | $437,867 | $569,362 |
| 96130 | $23,392 | $50,474 | $142,914 | $284,614 | $412,186 |
Source: Ownwell
Property Tax Bills Across Richmond, California
Property tax bills in Richmond, CA, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value typically reflects the property's market value, but it can be adjusted annually based on changes in the real estate market and local regulations. In Richmond, the median home price is $249,268, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and local tax rates. Homeowners in Richmond can expect their property tax bills to vary widely. For example, the 25th percentile tax bill is $681, while the 75th percentile tax bill is $3,844. At the 90th percentile, tax bills can reach up to $5,626. The highest median tax bill in the area is $3,615 in the 94801 zip code, whereas the lowest median tax bill is $1,633 in the 96130 zip code. These variations significantly impact homeowners, affecting their annual financial planning and overall cost of living.
Average Richmond Tax Bill
$2,448
Average Lassen County Tax Bill
$1,486
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Richmond, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94801 | $521 | $1,780 | $3,615 | $4,027 | $5,656 |
| 96130 | $233 | $511 | $1,633 | $2,966 | $4,246 |
Source: Ownwell