Santa Monica, California Property Taxes
The median property tax rate in Santa Monica, 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 Santa Monica at $884,564, the typical annual property tax bill reaches $10,460, exceeding the national median of $2,690. Property taxes in Santa Monica 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 Santa Monica'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 Santa Monica 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
Santa Monica, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$10,792
$10,014
$1,148
Average Tax Savings
Ownwell’s Santa Monica Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Santa Monica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Santa Monica 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 Santa Monica. 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 Santa Monica, California
Property taxes in Santa Monica, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Santa Monica is 1.22%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Santa Monica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Santa Monica 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 Santa Monica's effective property tax rate to other areas in Los Angeles County and the national median. For comparison, the 90404 zip code has the highest median property tax rate of 1.24%, while the 90402 zip code has the lowest median tax rate of 1.18%. Understanding how these areas compare with Santa Monica 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 Santa Monica 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 Santa Monica, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90401 | 1.16% | 1.20% | 1.22% | 1.28% | 1.39% |
| 90402 | 1.15% | 1.16% | 1.18% | 1.22% | 1.30% |
| 90403 | 1.17% | 1.19% | 1.22% | 1.28% | 1.39% |
| 90404 | 1.19% | 1.21% | 1.24% | 1.31% | 1.43% |
| 90405 | 1.17% | 1.19% | 1.23% | 1.30% | 1.48% |
Source: Ownwell
$1,148
Average Santa Monica Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Santa Monica, California
In Santa Monica, 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 Santa Monica, 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 example, the highest median tax bill is found in the 90402 zip code at $20,829, while the lowest is in the 90404 zip code at $7,873. 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 Santa Monica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Santa Monica, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Santa Monica Assessed Value
$884,564
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 Santa Monica, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90401 | $264,597 | $450,515 | $751,720 | $1,175,626 | $2,169,979 |
| 90402 | $337,588 | $819,918 | $1,823,781 | $3,555,246 | $5,379,889 |
| 90403 | $227,664 | $456,206 | $823,365 | $1,421,784 | $2,176,446 |
| 90404 | $213,130 | $397,305 | $659,302 | $1,029,868 | $1,466,964 |
| 90405 | $154,098 | $413,845 | $788,476 | $1,448,724 | $2,153,587 |
Source: Ownwell
$1,148
Average Santa Monica Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Santa Monica, California
In Santa Monica, Los Angeles County, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate. With a median home price of $884,564, homeowners can expect varying tax bills. For instance, the 25th percentile tax bill is around $5,728, while the 75th percentile reaches $19,096, and the 90th percentile can soar to $33,354. The highest median tax bill in the area is $20,829 in the 90402 zip code, whereas the lowest is $7,873 in the 90404 zip code. These tax bills can significantly impact homeowners, making it crucial to ensure you're not overpaying. Ownwell can assist by thoroughly reviewing your property’s assessed value and identifying potential discrepancies. We handle the appeal process on your behalf, aiming to reduce your tax burden and help you save money. By leveraging our expertise, you can navigate the complexities of property tax assessments more effectively.
Average Santa Monica Tax Bill
$10,460
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 Santa Monica, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90401 | $3,552 | $5,651 | $9,101 | $13,857 | $29,005 |
| 90402 | $4,303 | $9,481 | $20,829 | $40,045 | $60,160 |
| 90403 | $3,120 | $5,659 | $9,886 | $16,439 | $25,021 |
| 90404 | $2,542 | $4,905 | $7,873 | $12,090 | $16,756 |
| 90405 | $2,388 | $5,179 | $9,404 | $16,713 | $24,519 |
Source: Ownwell
$1,148
Average Santa Monica 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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