Carmel Valley, California Property Taxes
The median property tax rate in Carmel Valley, CA is 1.05%, 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 $750,538, the typical annual property tax bill in Carmel Valley reaches $7,653, significantly surpassing the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Carmel Valley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Carmel Valley or another part of Monterey County, comprehending the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Carmel Valley, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$7,881
$7,313
Ownwell’s Carmel Valley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Carmel Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carmel 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 Carmel Valley, California
Property taxes in Carmel Valley, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carmel Valley is 1.05%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Carmel Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carmel 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 Carmel Valley's effective property tax rate to other areas in California and the national median. For comparison, the 93924 zip code has the highest median property tax rate of 1.05%, while the 93923 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Carmel Valley 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 Valley Tax Rate
1.05%
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 Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93923 | 1.02% | 1.04% | 1.05% | 1.11% | 1.18% |
| 93924 | 1.03% | 1.04% | 1.05% | 1.09% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Carmel Valley, California
In Carmel 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 Monterey 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 Carmel 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. For instance, the zip code 93924 has the highest median tax bill at $7,660, while the zip code 93923 has the lowest at $2,751. 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 Carmel Valley, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Carmel Valley Assessed Value
$750,538
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 Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93923 | $168,988 | $233,756 | $273,920 | $669,964 | $809,339 |
| 93924 | $189,557 | $405,131 | $751,584 | $1,192,330 | $1,763,416 |
Source: Ownwell
Property Tax Bills Across Carmel Valley, California
In Carmel Valley, Monterey County, CA, property tax bills are calculated based on the assessed value of a home, which is often influenced by the market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%, but local rates can vary. Factors that influence the tax bill include the home's assessed value, which in Carmel Valley has a median home price of $750,538. For homeowners, this results in a wide range of tax bills. The 25th percentile tax bill is $4,219, while the 75th percentile tax bill reaches $12,074. At the higher end, the 90th percentile tax bill can soar to $17,823. These tax bills can have significant financial implications for homeowners, affecting monthly mortgage payments and overall affordability. In Monterey County, the highest median tax bill is $7,660 in the 93924 zip code, while the lowest is $2,751 in the 93923 zip code. Understanding these factors helps residents anticipate their financial obligations.
Average Carmel Valley Tax Bill
$7,653
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 Valley, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93923 | $1,960 | $2,589 | $2,751 | $6,955 | $8,470 |
| 93924 | $2,033 | $4,223 | $7,660 | $12,063 | $17,824 |
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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