Royal Oaks, California Property Taxes
The median property tax rate in Royal Oaks, CA is 1.10%, slightly above the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $393,032, the typical annual property tax bill in Royal Oaks reaches $4,237, significantly surpassing the national median of $2,690. Property taxes in Royal Oaks are calculated based on the assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Royal Oaks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Royal Oaks 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
Royal Oaks, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$4,323
$4,012
Ownwell’s Royal Oaks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Royal Oaks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Royal Oaks 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 Monterey County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Royal Oaks, California
Property taxes in Royal Oaks, California, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Royal Oaks is 1.10%, which is higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Royal Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Royal Oaks 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 Royal Oaks' effective property tax rate to other counties in California and the national median. For comparison, the 95076 zip code has the highest median property tax rate of 1.10%, while the 95012 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with Royal Oaks 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 Royal Oaks Tax Rate
1.10%
Average Monterey County Tax Rate
1.11%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Royal Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95012 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
| 95076 | 1.07% | 1.09% | 1.10% | 1.17% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Royal Oaks, California
In Royal Oaks, 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 Royal Oaks, 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. Notably, the highest median tax bill in the area is $7,802 in the 95012 zip code, while the lowest median tax bill is $4,236 in the 95076 zip code. Being aware of these valuation processes in Royal Oaks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Royal Oaks, California
Source: Ownwell
$16,130
$2,476,499
$4,936,868
Average Royal Oaks Assessed Value
$393,032
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 Royal Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95012 | $621,259 | $657,116 | $716,877 | $776,638 | $812,495 |
| 95076 | $85,353 | $223,516 | $392,225 | $599,878 | $823,786 |
Source: Ownwell
Property Tax Bills Across Royal Oaks, California
In Royal Oaks, Monterey County, CA, property tax bills are calculated based on the assessed value of a home, which typically aligns closely with the market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For Royal Oaks, the median home price is $393,032, which provides a baseline for understanding tax obligations. Several factors influence the final tax bill, including the property's location within specific tax districts, any applicable exemptions, and additional local levies for public services like schools and infrastructure. For instance, tax bills in Royal Oaks range significantly, with the 25th percentile at $2,497 and the 75th percentile reaching $6,639, reflecting the varied property values and tax rates within the area. At the higher end, the 90th percentile tax bill is $8,938. These property taxes impact homeowners by contributing to the overall cost of homeownership, influencing decisions on buying or selling property, and affecting long-term financial planning. The local tax rate in Royal Oaks is notably higher than the national median property tax rate of 0.99%, underscoring the importance of understanding local tax obligations.
Average Royal Oaks Tax Bill
$4,237
Average Monterey County Tax Bill
$4,500
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Royal Oaks, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95012 | $6,747 | $7,142 | $7,802 | $8,461 | $8,856 |
| 95076 | $1,085 | $2,496 | $4,236 | $6,633 | $8,938 |
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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