Penn Valley, Nevada County, California Property Taxes
Median PENN VALLEY, CA effective property tax rate: 1.36%, significantly higher than the national median of 1.02%, but lower than the California state median of 1.21%.
Median PENN VALLEY, CA home value: $369,723
Median annual PENN VALLEY, CA tax bill: $5,111, $2,711 higher than the national median property tax bill of $2,400.
How are property taxes in Nevada County calculated?
Property taxes in PENN VALLEY, CA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding PENN VALLEY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in PENN VALLEY, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Penn Valley, Nevada County, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.36%
Estimate Property Tax Bill
$5,028
$4,666
Property Tax Rates Across Penn Valley, Nevada County, California
Local government entities are responsible for setting tax rates, which can vary widely within California. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core process that occurs annually.
In Penn Valley, located in Nevada County, the effective property tax rate stands at 1.36%, which is higher than the national median property tax rate of 1.02%. This means homeowners in Penn Valley may find themselves paying more in property taxes compared to the national average. However, this rate is consistent with the highest and lowest median tax rates within the area, indicating a uniformity in taxation across the region.
Understanding how these rates are determined and how they compare to national and state medians can be crucial for homeowners looking to manage their property tax expenses effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Penn Valley Tax Rate
1.36%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Nevada County Tax Rate
1.16%
Median Effective California Tax Rate
1.21%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Penn Valley, Nevada County, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95946 | 1.09% | 1.16% | 1.36% | 1.52% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Penn Valley, Nevada County, California
When examining property taxes in Penn Valley, CA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Nevada County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Nevada County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Penn Valley. For example, the median home price in Penn Valley is $369,723, with tax bills ranging significantly across the county. Zip code 95946 has the highest median home price at $369,723.
Property Tax Assessment Values Across Penn Valley, Nevada County, California
Source: Ownwell
$181,896
$354,322
$526,747
Median Penn Valley Market Value
$369,723
Median Nevada County Market Value
$380,629
Median California Market Value
$378,421
Median United States Market Value
$235,294
Property Tax Assessment Values Across Penn Valley, Nevada County, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95946 | $187,524 | $266,322 | $369,723 | $508,543 | $711,985 |
Source: Ownwell
Property Tax Bills Across Penn Valley, Nevada County, California
In Penn Valley, located in Nevada County, CA, property tax bills are calculated based on the assessed value of a home, rather than its market value. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value at the time of purchase. Homeowners in Penn Valley experience a median property tax bill of $5,111, which is significantly higher than the national median of $2,400. Factors such as property location, improvements, and local tax rates influence the final tax bill. For homeowners, these taxes can represent a substantial financial obligation, especially when compared to the national median property tax rate of 1.02%.
Ownwell assists homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax bills. By analyzing assessment data and identifying discrepancies, Ownwell can help homeowners challenge overvaluations and secure savings. This service is invaluable for homeowners looking to reduce their property tax burden and ensure they are not overpaying each year.
Median Penn Valley Tax Bill
$5,111
Median Nevada County Tax Bill
$4,722
Median California Tax Bill
$4,683
Median United States Tax Bill
$2,400
Property Tax Bills Across Penn Valley, Nevada County, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95946 | $2,951 | $3,975 | $5,111 | $6,544 | $8,502 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
|---|
Links | |
|---|---|
| Nevada Tax Assessor | |
| Website | common2.mptsweb.com |