Hammil Valley, California Property Taxes
The median property tax rate in Hammil Valley, 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 $348,022, the typical annual property tax bill in Hammil Valley amounts to $3,610, surpassing the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Hammil Valley'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 Hammil Valley or another part of Mono County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hammil Valley, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,619
$3,418
Ownwell’s HAMMIL VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HAMMIL VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HAMMIL VALLEY 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 Hammil Valley, California
Property taxes in Hammil Valley, California, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hammil Valley is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Hammil Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hammil Valley 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 Hammil Valley's effective property tax rate to other areas in Mono County and the national median. For comparison, the 93514 ZIP code has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Hammil Valley provides valuable insights into the varying tax landscape across Mono County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hammil Valley Tax Rate
1.04%
Average Mono County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hammil Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | 0.92% | 1.03% | 1.04% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Hammil Valley, California
In Hammil Valley, 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 Mono 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 Hammil Valley, 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. Notably, the highest and lowest median tax bills in Hammil Valley are both $3,610 in the 93514 zip code. 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 Hammil Valley, California
Source: Ownwell
$16,538
$316,735
$616,931
Average Hammil Valley Assessed Value
$348,022
Average Mono County Assessed Value
$402,900
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hammil Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | $182,994 | $233,377 | $348,022 | $522,098 | $612,788 |
Source: Ownwell
Property Tax Bills Across Hammil Valley, California
In Hammil Valley, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the Mono County Assessor's Office. This assessed value typically aligns with the property's market value, which in Hammil Valley has a median home price of $348,022. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local authorities. For example, the 25th percentile tax bill in Hammil Valley is $2,422, while the 75th percentile reaches $4,572, and the 90th percentile can go up to $5,885. These variations highlight how different factors can significantly impact the amount homeowners are required to pay. Comparatively, the national median property tax rate is 0.99%, making it essential for Hammil Valley homeowners to understand their specific tax obligations to manage their finances effectively.
Average Hammil Valley Tax Bill
$3,610
Average Mono County Tax Bill
$4,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Hammil Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93514 | $1,962 | $2,422 | $3,610 | $4,572 | $5,885 |
Source: Ownwell