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Toluca Lake, California Property Taxes

The median property tax rate in Toluca Lake, CA is 1.17%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Toluca Lake at $1,038,960, the typical annual property tax bill reaches $11,829, significantly exceeding the national median of $2,690. Property taxes in Toluca Lake 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 Toluca Lake'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 Toluca Lake 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

Toluca Lake, California Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.17%

Estimate Property Tax Bill

$12,156

$11,280

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Toluca Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toluca Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toluca Lake 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 Toluca Lake. 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 Toluca Lake, California

Property taxes in Toluca Lake, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toluca Lake is 1.17%, higher than the U.S. national median of 0.99%. Local government entities within Toluca Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toluca Lake 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 Toluca Lake's effective property tax rate to other counties in California and the national median. For comparison, the 91602 zip code has the highest median property tax rate of 1.17%, while the 91602 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Toluca Lake 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.

Property Tax Rates Across Toluca Lake, California

Source: Ownwell

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1.08%

3.89%

6.71%

Average Toluca Lake Tax Rate

1.17%

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 Toluca Lake, California

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
916021.16%1.16%1.17%1.19%1.23%

Source: Ownwell

Property Tax Assessment Values Across Toluca Lake, California

In Toluca Lake, 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 Toluca Lake, 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 Toluca Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 91602 has both the highest and lowest median tax bills at $11,829.

Property Tax Assessment Values Across Toluca Lake, California

Source: Ownwell

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$54,919

$1,436,037

$2,817,155

Average Toluca Lake Assessed Value

$1,038,960

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 Toluca Lake, California

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
91602$358,169$597,185$1,038,960$1,950,749$3,315,224

Source: Ownwell

Property Tax Bills Across Toluca Lake, California

In Toluca Lake, Los Angeles County, property tax bills are calculated based on the assessed value of a home, which is often derived from its market value. The median home price in this area is $1,038,960. Property tax rates in California are generally capped at 1% of the assessed value, with additional local taxes and assessments possibly increasing the total rate. For example, homeowners in Toluca Lake can expect property tax bills ranging from $6,691 at the 25th percentile to $36,934 at the 90th percentile, with the highest median tax bill recorded at $11,829 in the 91602 zip code. These property taxes can significantly impact homeowners, especially in high-value areas. This is where Ownwell comes in. By leveraging expert knowledge and a deep understanding of local tax laws, Ownwell helps homeowners appeal their property assessments, potentially lowering their tax bills. With services tailored to navigate the complexities of property tax appeals, Ownwell ensures homeowners pay only their fair share, providing substantial savings and peace of mind.

Property Tax Bills Across Toluca Lake, California

Source: Ownwell

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$823

$26,956

$53,089

Average Toluca Lake Tax Bill

$11,829

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 Toluca Lake, California

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
91602$4,170$6,691$11,829$21,407$36,934

Source: Ownwell

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