Cressey, California Property Taxes
The median property tax rate in Cressey, CA is 1.04%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $121,329 in Cressey, the typical annual property tax bill amounts to $1,235, which is below the national median of $2,690. Property taxes in Cressey are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cressey'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 Cressey 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
Cressey, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,262
$1,171
Ownwell’s Cressey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cressey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cressey 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 Cressey, California
Property taxes in Cressey, California, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cressey is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Cressey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cressey 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 Cressey's effective property tax rate to other counties in California and the national median. For comparison, the 95312 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Cressey provides valuable insights into the varying tax landscape across Merced County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cressey Tax Rate
1.04%
Average Merced County Tax Rate
1.07%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cressey, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95312 | 0.97% | 1.01% | 1.04% | 1.08% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Cressey, California
In Cressey, 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 Merced 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 Cressey, 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. The median home price in Cressey is $121,329, with tax bills ranging from $680 at the 25th percentile to $2,811 at the 90th percentile. Both the highest and lowest median tax bills are $1,235 in the 95312 zip code. By understanding 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 Cressey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cressey Assessed Value
$121,329
Average Merced County Assessed Value
$213,039
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cressey, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95312 | $47,373 | $65,446 | $121,329 | $192,080 | $293,480 |
Source: Ownwell
Property Tax Bills Across Cressey, California
In Cressey, CA, property tax bills are calculated based on the assessed value of the home, which is determined by the Merced County Assessor's Office. The assessed value is typically a percentage of the market value of the property. For homeowners in Cressey, the median home price stands at $121,329. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors considered in the tax bill calculation include the property's assessed value, any applicable exemptions, and the local tax rate. For instance, the tax bill for a home in the 25th percentile is around $680, while a home in the 75th percentile sees a tax bill of approximately $1,877. Homes in the 90th percentile can have tax bills as high as $2,811. These property tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Cressey's tax rates reflect the local real estate market and county-specific regulations, affecting the overall affordability for residents.
Average Cressey Tax Bill
$1,235
Average Merced County Tax Bill
$2,293
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Cressey, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95312 | $460 | $680 | $1,235 | $1,877 | $2,811 |
Source: 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 | |
|---|---|
| Merced Tax Assessor | |
| Website | common3.mptsweb.com |