Pacific Grove, California Property Taxes
The median property tax rate in Pacific Grove, CA is 1.08%, slightly higher than the national median of 0.99% but below the California state median of 1.21%. With a median home value of $633,812 in Pacific Grove, the typical annual property tax bill reaches $6,533, significantly surpassing the national median of $2,690. Property taxes in Pacific Grove are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pacific Grove'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 Pacific Grove 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
Pacific Grove, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Pacific Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pacific Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pacific Grove 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 Pacific Grove, California
Property taxes in Pacific Grove, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pacific Grove is 1.08%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Pacific Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pacific Grove 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 Pacific Grove's effective property tax rate to other counties in California and the national median. For comparison, the 93950 zip code has the highest median property tax rate of 1.08%, while the 93950 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Pacific Grove 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 Pacific Grove Tax Rate
1.08%
Average Monterey County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pacific Grove, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93950 | 1.07% | 1.07% | 1.08% | 1.09% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Pacific Grove, California
In Pacific Grove, 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 Pacific Grove, 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 Pacific Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pacific Grove is $633,812, with the highest median tax bill being $6,533 in the 93950 zip code and the lowest median tax bill also being $6,533 in the same zip code.
Property Tax Assessment Values Across Pacific Grove, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Pacific Grove Assessed Value
$633,812
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 Pacific Grove, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93950 | $100,358 | $296,650 | $633,812 | $967,858 | $1,404,642 |
Source: Ownwell
Property Tax Bills Across Pacific Grove, California
In Pacific Grove, located in Monterey County, CA, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is typically a percentage of the market value. For example, a property with a median home price of $633,812 will have its tax bill calculated using this assessed value. Homeowners in Pacific Grove can expect property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is around $2,995, while at the 75th percentile, it can rise to approximately $10,005. At the 90th percentile, tax bills can soar to $14,326. These figures reflect the substantial variation in property values within the city. The highest and lowest median tax bills in the area are both recorded at $6,533, indicating a consistent median rate within certain zip codes. These property tax bills impact homeowners by contributing to local services such as schools, public safety, and infrastructure, making it crucial for homeowners to understand how their tax liabilities are determined.
Average Pacific Grove Tax Bill
$6,533
Average Monterey County Tax Bill
$4,500
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Pacific Grove, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93950 | $1,043 | $2,995 | $6,533 | $10,005 | $14,326 |
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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