Forbestown, California Property Taxes
The median property tax rate in Forbestown, CA is 1.02%, 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 Forbestown at $33,082, the typical annual property tax bill is $336, which is significantly below the national median of $2,690. Property taxes in Forbestown are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Forbestown'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 Forbestown or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forbestown, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Forbestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forbestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forbestown to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Forbestown, California
Property taxes in Forbestown, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forbestown is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Forbestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forbestown 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 Forbestown's effective property tax rate to other counties in California and the national median. For comparison, the 95941 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Forbestown provides valuable insights into the varying tax landscape across Mariposa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forbestown Tax Rate
1.02%
Average Mariposa County Tax Rate
1.02%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forbestown, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95941 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Forbestown, California
In Forbestown, 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 Mariposa County Appraisal District 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 Forbestown, 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 Forbestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Forbestown are both $336, found in the zip code 95941.
Average Forbestown Assessed Value
$33,082
Average Mariposa County Assessed Value
$200,834
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forbestown, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95941 | $13,667 | $13,941 | $33,082 | $86,792 | $149,293 |
Source: Ownwell
Property Tax Bills Across Forbestown, California
In Forbestown, property tax bills are calculated based on the assessed value of the property, which is determined by the Mariposa County Assessor's Office. The assessed value is typically a percentage of the property's market value. Homeowners in Forbestown can expect their property tax rate to align closely with the national median of 0.99%. This rate is applied to the assessed value to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For example, the median home price in Forbestown is $33,082, resulting in a range of tax bills. The 25th percentile tax bill is around $142, while the 75th percentile tax bill can reach $883. For those in the 90th percentile, tax bills can be as high as $1,518. The highest and lowest median tax bills in the area are both $336, indicating a relatively narrow range for most homeowners. These taxes fund essential local services, impacting community infrastructure and public education.
Average Forbestown Tax Bill
$336
Average Mariposa County Tax Bill
$1,990
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Forbestown, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95941 | $139 | $142 | $336 | $883 | $1,518 |
Source: Ownwell