Carmel By The Sea, California Property Taxes
The median property tax rate in Carmel by the Sea, CA is 1.18%, which is higher than the national median of 0.99% but slightly below the California state median of 1.21%. With the median home value in Carmel by the Sea at $803,904, the typical annual property tax bill reaches $9,242, significantly exceeding the national median of $2,690. Property taxes in Carmel by the Sea are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carmel by the Sea'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 Carmel by the Sea or another part of Monterey County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carmel By The Sea, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$9,486
$8,803
Ownwell's Carmel-by-the-Sea Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Carmel-by-the-Sea to project your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property's assessed value is determined by Monterey County for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Carmel By The Sea, California
Property taxes in Carmel by the Sea, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carmel by the Sea is 1.18%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Carmel by the Sea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carmel by the Sea 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 Carmel by the Sea's effective property tax rate to other counties in California and the national median. For comparison, the 93921 zip code has the highest median property tax rate of 1.18%, while the 93921 zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Carmel by the Sea provides valuable insights into the varying tax landscape across Monterey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carmel By The Sea Tax Rate
1.18%
Average Monterey County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carmel By The Sea, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93921 | 1.12% | 1.14% | 1.18% | 1.22% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Carmel By The Sea, California
In Carmel by the Sea, 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 Monterey County Assessor's Office 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 Carmel by the Sea, 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 Carmel by the Sea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both in zip code 93921, amounting to $9,242.
Property Tax Assessment Values Across Carmel By The Sea, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Carmel By The Sea Assessed Value
$803,904
Average Monterey County Assessed Value
$410,665
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carmel By The Sea, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93921 | $524,995 | $629,586 | $803,904 | $978,221 | $1,082,812 |
Source: Ownwell
Property Tax Bills Across Carmel By The Sea, California
In Carmel by the Sea, located in Monterey County, CA, property tax bills are primarily determined by the assessed value of the property. This value is based on the market value at the time of purchase and is subject to annual increases limited by Proposition 13, typically capped at 2%. The local tax rate is then applied to the assessed value to calculate the tax bill. Homeowners in Carmel by the Sea can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $7,485, while the 75th percentile reaches approximately $10,999. At the higher end, the 90th percentile tax bill can be as much as $12,053. Notably, the highest median tax bill recorded in the area is $9,242, which is significantly higher than the national median property tax rate of 0.99%. These property tax bills can have a substantial impact on homeowners, affecting their annual budgeting and long-term financial planning. Understanding these factors is crucial for anyone considering property ownership in Carmel by the Sea.
Average Carmel By The Sea Tax Bill
$9,242
Average Monterey County Tax Bill
$4,500
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Carmel By The Sea, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93921 | $6,431 | $7,485 | $9,242 | $10,999 | $12,053 |
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 |
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