Sherman Oaks, California Property Taxes
The median property tax rate in Sherman Oaks, CA is 1.18%, slightly below the California state median of 1.21% but still higher than the national median of 0.99%. With a median home value of $662,771, the typical annual property tax bill in Sherman Oaks reaches $7,562, significantly exceeding the national median of $2,690. Property taxes in Sherman Oaks are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence exemption. Understanding Sherman Oaks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sherman Oaks 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
Sherman Oaks, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$7,821
$7,257
$1,148
Average Tax Savings
Ownwell’s Sherman Oaks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sherman Oaks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sherman Oaks 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 Sherman Oaks. 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 Los Angeles County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sherman Oaks, California
Property taxes in Sherman Oaks, CA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sherman Oaks is 1.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sherman Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sherman Oaks 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 Sherman Oaks's effective property tax rate to other areas in Los Angeles County and the national median. For comparison, the 91401 ZIP code has the highest median property tax rate of 1.18%, while the 91423 ZIP code has the lowest median tax rate of 1.18%. Understanding how these areas compare with Sherman Oaks 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 Sherman Oaks Tax Rate
1.18%
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 Sherman Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91401 | 1.16% | 1.17% | 1.18% | 1.21% | 1.28% |
| 91403 | 1.16% | 1.17% | 1.18% | 1.20% | 1.27% |
| 91411 | 1.16% | 1.17% | 1.18% | 1.20% | 1.26% |
| 91423 | 1.16% | 1.17% | 1.18% | 1.20% | 1.26% |
Source: Ownwell
$1,148
Average Sherman Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Sherman Oaks, California
In Sherman Oaks, 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 Sherman Oaks, 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 Sherman Oaks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $7,797 in the 91403 zip code, while the lowest is $6,009 in the 91411 zip code.
Property Tax Assessment Values Across Sherman Oaks, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Sherman Oaks Assessed Value
$662,771
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 Sherman Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91401 | $195,207 | $397,035 | $623,330 | $966,854 | $1,450,504 |
| 91403 | $214,057 | $395,203 | $683,525 | $1,222,308 | $1,850,871 |
| 91411 | $154,967 | $312,451 | $525,159 | $830,608 | $1,136,294 |
| 91423 | $202,514 | $401,548 | $681,730 | $1,197,870 | $1,875,655 |
Source: Ownwell
$1,148
Average Sherman Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Sherman Oaks, California
In Sherman Oaks, located in Los Angeles County, CA, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The median home price in Sherman Oaks is $662,771. Property tax rates in this area vary, with the highest median tax bill reaching $7,797 in the 91403 zip code, while the lowest is $6,009 in the 91411 zip code. These figures are influenced by factors such as property size, location, and market conditions. Homeowners in Sherman Oaks face tax bills ranging from $4,484 at the 25th percentile to $19,777 at the 90th percentile, significantly higher than the national median property tax rate of 0.99%. This can place a substantial financial burden on homeowners. Ownwell can help mitigate these costs by providing expert property tax appeal and exemption services. By thoroughly assessing your property and identifying potential discrepancies in the assessed value, Ownwell can help you secure a lower tax bill, ensuring you only pay your fair share.
Average Sherman Oaks Tax Bill
$7,562
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 Sherman Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91401 | $2,439 | $4,650 | $7,179 | $11,095 | $15,993 |
| 91403 | $2,651 | $4,545 | $7,797 | $13,799 | $20,572 |
| 91411 | $1,885 | $3,659 | $6,009 | $9,534 | $12,374 |
| 91423 | $2,468 | $4,657 | $7,792 | $13,461 | $20,938 |
Source: Ownwell
$1,148
Average Sherman Oaks 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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