Cerritos, California Property Taxes
The median property tax rate in Cerritos, CA is 1.21%, considerably higher than the national median of 0.99%. With the median home value in Cerritos at $439,064, the typical annual property tax bill reaches $5,206, significantly exceeding the national median of $2,690. Property taxes in Cerritos are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence exemption. Understanding Cerritos'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 Cerritos 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
Cerritos, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$5,313
$4,930
$1,148
Average Tax Savings
Ownwell’s Cerritos Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cerritos with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cerritos to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Cerritos. 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 Cerritos, California
Property taxes in Cerritos, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cerritos is 1.21%, which is higher than the U.S. national median of 0.99%. Local government entities within Cerritos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cerritos 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 Cerritos's effective property tax rate to other areas in Los Angeles County and the national median. For comparison, the 90703 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Cerritos provides valuable insights into the varying tax landscape across Los Angeles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cerritos Tax Rate
1.21%
Average Los Angeles County Tax Rate
1.24%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cerritos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90703 | 1.16% | 1.17% | 1.21% | 1.27% | 1.48% |
Source: Ownwell
$1,148
Average Cerritos Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Cerritos, California
In Cerritos, 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 Los Angeles 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 Cerritos, 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 Cerritos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cerritos, both at $5,206, are found in the 90703 zip code, highlighting the uniformity in this area.
Property Tax Assessment Values Across Cerritos, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Cerritos Assessed Value
$439,064
Average Los Angeles County Assessed Value
$434,238
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cerritos, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90703 | $121,064 | $255,046 | $439,064 | $701,055 | $890,944 |
Source: Ownwell
$1,148
Average Cerritos Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Cerritos, California
In Cerritos, property tax bills are calculated based on the assessed value of a home, which is determined by the Los Angeles County Assessor's Office. The assessed value is typically a percentage of the home's market value. This figure is then multiplied by the local tax rate. For homeowners in Cerritos, the median home price is $439,064, resulting in a range of tax bills. The 25th percentile tax bill is $3,173, while the 75th percentile reaches $8,033, and the 90th percentile peaks at $10,072. The highest median tax bill in the area is $5,206, found in the 90703 zip code. These property taxes can significantly impact homeowners' finances. However, Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging expertise and local knowledge, Ownwell helps homeowners challenge their assessed values, potentially reducing their tax bills and saving them money. This service ensures homeowners aren't overpaying and can better manage their financial obligations.
Average Cerritos Tax Bill
$5,206
Average Los Angeles County Tax Bill
$5,343
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Cerritos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90703 | $1,766 | $3,173 | $5,206 | $8,033 | $10,072 |
Source: Ownwell
$1,148
Average Cerritos Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Los Angeles Tax Assessor | |
| Phone | (213) 974-3211 |
| Website | portal.assessor.lacounty.gov |
| pio@assessor.lacounty.gov | |
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