Toms Place, California Property Taxes
The median property tax rate in Toms Place, CA is 1.11%, slightly higher than the national median of 0.99% but below the California state median of 1.21%. With a median home value of $616,931, the typical annual property tax bill in Toms Place amounts to $6,091, significantly surpassing the national median of $2,690. Property taxes in Toms Place are determined based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Toms Place's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're nestled in the heart of Toms Place or residing in another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Toms Place, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$6,848
$6,355
Ownwell’s Toms Place Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toms Place with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toms Place 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 Toms Place, California
Property taxes in Toms Place, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toms Place is 1.11%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Toms Place set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toms Place 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 Toms Place's effective property tax rate to other areas in California and the national median. For comparison, the 93546 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these areas compare with Toms Place 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 Toms Place Tax Rate
1.11%
Average Mono County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toms Place, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93546 | 0.61% | 1.10% | 1.11% | 1.13% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Toms Place, California
In Toms Place, 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 Toms Place, 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. The median home price in Toms Place is $616,931, with annual tax bills ranging from $3,963 at the 25th percentile to $15,055 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Toms Place Assessed Value
$616,931
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 Toms Place, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93546 | $327,526 | $447,215 | $616,931 | $908,954 | $1,512,971 |
Source: Ownwell
Property Tax Bills Across Toms Place, California
In Toms Place, located in Mono County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the home's market value. Homeowners in Toms Place can expect their tax bills to vary significantly depending on this assessed value. Factors such as property improvements, neighborhood developments, and market trends can influence these assessments. For example, the median home price in Toms Place is $616,931, and property tax bills can range widely. The 25th percentile of tax bills is around $3,963, while the 75th percentile reaches up to $10,093. At the higher end, the 90th percentile sees tax bills as steep as $15,055. These figures indicate that homeowners in Toms Place may face property tax bills that are notably higher than the national median property tax rate of 0.99%. This variability in tax bills can significantly impact homeowners, especially when planning for annual expenses.
Average Toms Place Tax Bill
$6,091
Average Mono County Tax Bill
$4,319
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Toms Place, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93546 | $2,688 | $3,963 | $6,091 | $10,093 | $15,055 |
Source: Ownwell