Parkfield, California Property Taxes
The median property tax rate in Parkfield, CA is 0.84%, which is lower than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Parkfield, the typical annual property tax bill amounts to $251, significantly below the national median of $2,690. Property taxes in Parkfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parkfield'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 Parkfield 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
Parkfield, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$249
$236
Ownwell’s Parkfield Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers. By simply entering your property’s estimated assessed value, the calculator uses the median tax rate in Parkfield to estimate your annual property tax bill. This user-friendly tool provides a clear understanding of your potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights, localized trends are available further down the page. Your property’s assessed value, determined by Monterey County, factors in any applicable exemptions, ensuring an accurate estimation of your property tax obligations.
Property Tax Rates Across Parkfield, California
Property taxes in Parkfield, California, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkfield is 0.84%, which is lower than both the California state median and the U.S. national median of 0.99%. Local government entities within Parkfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkfield 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 Parkfield's effective property tax rate to other counties in California and the national median. For comparison, the 93451 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Parkfield 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 Parkfield Tax Rate
0.84%
Average Monterey County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkfield, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93451 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Parkfield, California
In Parkfield, 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 Parkfield, 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. With a median home price of $29,698, residents see a median tax bill of $251. Notably, the zip code 93451 has both the highest and lowest median tax bills, each at $251. 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 Parkfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Parkfield, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Parkfield Assessed Value
$29,698
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 Parkfield, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93451 | $29,698 | $29,698 | $29,698 | $29,698 | $29,698 |
Source: Ownwell
Property Tax Bills Across Parkfield, California
Property tax bills in Parkfield, located in Monterey County, CA, are determined based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Parkfield, the median home price is $29,698, and the median property tax bill is $251. This amount is consistent across different percentiles, indicating a uniform tax rate application within the region. Several factors influence the tax bill, including property improvements, market conditions, and local tax levies. Homeowners in Parkfield can expect their property taxes to impact their annual financial planning, although the relatively low median tax bill suggests a lighter burden compared to the national median property tax rate of 0.99%. Understanding these elements helps homeowners anticipate their tax responsibilities and manage their budgets effectively.
Average Parkfield Tax Bill
$251
Average Monterey County Tax Bill
$4,500
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkfield, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93451 | $251 | $251 | $251 | $251 | $251 |
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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