Palos Verdes Peninsula, California Property Taxes
The median property tax rate in Palos Verdes Peninsula, CA is 1.12%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $1,132,608 in Palos Verdes Peninsula, the typical annual property tax bill reaches $12,581, significantly surpassing the national median of $2,690. Property taxes in Palos Verdes Peninsula 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 Palos Verdes Peninsula'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 Palos Verdes Peninsula or another part of Los Angeles County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palos Verdes Peninsula, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
$1,272
$1,148
Average Palos Verdes Peninsula, California Tax Savings
Ownwell’s Palos Verdes Peninsula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palos Verdes Peninsula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palos Verdes Peninsula 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 Palos Verdes Peninsula. 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 Palos Verdes Peninsula, California
Property taxes in Palos Verdes Peninsula, CA, play a crucial role in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Palos Verdes Peninsula is 1.12%, which is higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Palos Verdes Peninsula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palos Verdes Peninsula 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 Palos Verdes Peninsula's effective property tax rate to other regions in California and the national median. For comparison, the 90274 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these areas compare with Palos Verdes Peninsula 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 Palos Verdes Peninsula Tax Rate
1.12%
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 Palos Verdes Peninsula, California
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
90274 | 1.07% | 1.09% | 1.12% | 1.19% | 1.45% |
Source: Ownwell
$1,148
Average Palos Verdes Peninsula Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palos Verdes Peninsula, California
In Palos Verdes Peninsula, 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 Palos Verdes Peninsula, 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 Palos Verdes Peninsula helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 90274, with a bill of $12,581, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Palos Verdes Peninsula, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Palos Verdes Peninsula Assessed Value
$1,132,608
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 Palos Verdes Peninsula, California
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
90274 | $203,220 | $618,236 | $1,132,608 | $1,624,066 | $2,361,057 |
Source: Ownwell
$1,148
Average Palos Verdes Peninsula Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palos Verdes Peninsula, California
Property tax bills in Palos Verdes Peninsula, located in Los Angeles County, CA, are determined based on the assessed value of a home, which is typically a percentage of its market value. The median home price in this area is $1,132,608, and property tax rates are applied to this assessed value. Factors such as property size, location, and any improvements made can influence the assessed value. The tax bill can vary significantly, with the 25th percentile at $6,899 and the 75th percentile at $17,611, reaching up to $24,776 at the 90th percentile. Homeowners in Palos Verdes Peninsula often face higher property tax bills compared to the national median property tax rate of 0.99%. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing your property's assessed value and identifying discrepancies or opportunities for exemptions, Ownwell can help reduce your property tax bill, ensuring you only pay what is fair and potentially saving you thousands of dollars annually.
Average Palos Verdes Peninsula Tax Bill
$12,581
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 Palos Verdes Peninsula, California
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
90274 | $2,902 | $6,899 | $12,581 | $17,611 | $24,776 |
Source: Ownwell
$1,148
Average Palos Verdes Peninsula 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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