Thousand Oaks, California Property Taxes
The median property tax rate in Thousand Oaks, CA is 1.18%, which is higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Thousand Oaks at $570,125, the typical annual property tax bill reaches $6,676, significantly exceeding the national median of $2,690. Property taxes in Thousand Oaks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Thousand 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 Thousand 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
Thousand Oaks, 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 Thousand Oaks, California Tax Savings
Ownwell’s Thousand Oaks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thousand Oaks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thousand 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 Thousand 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thousand Oaks, California
Property taxes in Thousand Oaks, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thousand Oaks is 1.18%, higher than the U.S. national median of 0.99%. Local government entities within Thousand Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thousand 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 Thousand Oaks' effective property tax rate to other regions and the national median. For comparison, the 91361 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these figures compare with Thousand 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 Thousand 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 Thousand Oaks, California
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
91361 | 1.16% | 1.16% | 1.18% | 1.19% | 1.20% |
Source: Ownwell
$1,148
Average Thousand Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Thousand Oaks, California
In Thousand 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 Thousand 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. For instance, homeowners in the 91361 zip code face the highest median tax bill at $6,676, which is above the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Thousand Oaks, California
Source: Ownwell
$54,919
$1,436,037
$2,817,155
Average Thousand Oaks Assessed Value
$570,125
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 Thousand Oaks, California
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
91361 | $440,627 | $489,188 | $570,125 | $651,062 | $699,623 |
Source: Ownwell
$1,148
Average Thousand Oaks Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Thousand Oaks, California
In Thousand Oaks, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the Los Angeles County Assessor's Office. The assessed value is typically a percentage of the property's market value. Homeowners in Thousand Oaks face a median property tax bill of $6,676, which is significantly higher than the national median of 0.99%. Factors such as property improvements, market conditions, and local tax rates influence the final tax bill. For instance, tax bills range from the 25th percentile at $5,806 to the 90th percentile at $8,067, reflecting the variation in property values and assessments. Ownwell can help homeowners in Thousand Oaks reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing the property's assessed value and comparing it with market trends, Ownwell can identify discrepancies and help homeowners file successful appeals. This can lead to substantial savings, ensuring that homeowners pay a fair and accurate amount in property taxes.
Average Thousand Oaks Tax Bill
$6,676
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 Thousand Oaks, California
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
91361 | $5,284 | $5,806 | $6,676 | $7,545 | $8,067 |
Source: Ownwell
$1,148
Average Thousand 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 | 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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