Downey, California Property Taxes
The median property tax rate in Downey, CA is 1.22%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Downey, the typical annual property tax bill reaches $5,293, exceeding the national median of $2,690. Property taxes in Downey 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 Downey'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 Downey 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
Downey, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$5,374
$5,075
$1,148
Average Downey, California Tax Savings
Ownwell’s Downey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Downey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Downey 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 Downey. 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 Downey, California
Property taxes in Downey, California, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Downey is 1.22%, which is higher than the U.S. national median of 0.99%. Local government entities within Downey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Downey 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 Downey's effective property tax rate to other areas in Los Angeles County and the national median. For comparison, the 90242 zip code has the highest median property tax rate of 1.23%, while the 90240 zip code has the lowest median tax rate of 1.22%. Understanding how these cities compare with Downey 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 Downey Tax Rate
1.22%
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 Downey, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90239 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 90240 | 1.17% | 1.19% | 1.22% | 1.26% | 1.45% |
| 90241 | 1.18% | 1.19% | 1.22% | 1.27% | 1.44% |
| 90242 | 1.18% | 1.20% | 1.23% | 1.28% | 1.45% |
Source: Ownwell
$1,148
Average Downey Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Downey, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Downey, CA. 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 Downey, 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. For instance, in Downey, those in the 25th percentile of tax bills pay around $3,555, while those in the 75th percentile face bills of about $7,256. The highest median tax bill is $7,908 in zip code 90239, and the lowest is $4,722 in zip code 90242. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Downey Assessed Value
$440,454
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 Downey, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90239 | $641,216 | $641,216 | $641,216 | $641,216 | $641,216 |
| 90240 | $155,604 | $312,818 | $487,212 | $683,538 | $908,052 |
| 90241 | $150,526 | $295,414 | $460,817 | $649,209 | $838,713 |
| 90242 | $143,631 | $263,471 | $390,636 | $543,278 | $699,332 |
Source: Ownwell
$1,148
Average Downey Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Downey, California
In Downey, located in Los Angeles County, CA, property tax bills are calculated based on the assessed value of the property, which is typically determined by the county assessor. This assessed value is then multiplied by the local property tax rate. For homeowners in Downey, the tax bill can vary significantly, with the 25th percentile paying around $3,555 and the 75th percentile facing bills up to $7,256. The highest median tax bill in the area is $7,908, found in the 90239 zip code, while the lowest is $4,722 in the 90242 zip code. These figures are influenced by factors such as property location, market value, and any applicable exemptions. Ownwell can help homeowners in Downey save on their property tax bills by providing expert property tax appeal and exemption services. By ensuring that your property is accurately assessed and that you are taking advantage of all available exemptions, Ownwell can help reduce your tax burden, potentially saving you thousands of dollars annually.
Average Downey Tax Bill
$5,293
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 Downey, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90239 | $7,908 | $7,908 | $7,908 | $7,908 | $7,908 |
| 90240 | $2,111 | $3,874 | $5,807 | $7,965 | $10,371 |
| 90241 | $2,017 | $3,676 | $5,545 | $7,629 | $9,667 |
| 90242 | $1,880 | $3,301 | $4,722 | $6,404 | $7,997 |
Source: Ownwell
$1,148
Average Downey 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 | December 2 |
| 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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