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Midway City, California Property Taxes

The median property tax rate in Midway City, CA is 1.23%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Midway City at $346,422, the typical annual property tax bill reaches $4,410, exceeding the national median of $2,690. Property taxes in Midway City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Midway City'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 Midway City 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

Midway City, California Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.23%

Estimate Property Tax Bill

$4,261

$3,954

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Midway City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midway City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midway City to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Midway City. 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 Midway City, California

Property taxes in Midway City, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midway City is 1.23%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Midway City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midway City 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 Midway City's effective property tax rate to other counties in California and the national median. For comparison, the 92655 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Midway City provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Midway City, California

Source: Ownwell

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1.01%

1.33%

1.65%

Average Midway City Tax Rate

1.23%

Average Orange County Tax Rate

1.14%

Average California Tax Rate

1.21%

Average United States Tax Rate

0.99%

Property Tax Rates Across Midway City, California

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
926551.09%1.18%1.23%1.32%1.53%

Source: Ownwell

Property Tax Assessment Values Across Midway City, California

In Midway City, 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 Orange 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 Midway City, 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. The median home price in Midway City is $346,422. The 25th percentile tax bill is $2,306, while the 75th percentile tax bill reaches $7,502. The highest median tax bill is $4,410, found in the 92655 zip code, which also has the lowest median tax bill of $4,410. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Midway City, California

Source: Ownwell

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$10,700

$1,158,683

$2,306,666

Average Midway City Assessed Value

$346,422

Average Orange County Assessed Value

$514,928

Average California Assessed Value

$378,421

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Midway City, California

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
92655$19,078$153,011$346,422$613,417$833,660

Source: Ownwell

Property Tax Bills Across Midway City, California

In Midway City, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the Orange County Assessor's Office. This value typically reflects the market value at the time of purchase and can increase by a maximum of 2% annually under California's Proposition 13. The median home price in Midway City is $346,422, and property tax rates hover around the national median of 0.99%. Factors such as the property's location, improvements, and market conditions influence the assessed value. Homeowners in Midway City can expect tax bills ranging from $2,306 at the 25th percentile to $9,939 at the 90th percentile, with the highest median tax bill recorded at $4,410 in the 92655 zip code. Ownwell assists homeowners by identifying potential discrepancies in assessed values and filing appeals to ensure fair taxation. By leveraging expert knowledge and local data, Ownwell can help reduce your property tax bill, ensuring you only pay what is necessary.

Property Tax Bills Across Midway City, California

Source: Ownwell

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$118

$12,784

$25,450

Average Midway City Tax Bill

$4,410

Average Orange County Tax Bill

$5,879

Average California Tax Bill

$4,683

Average United States Tax Bill

$2,690

Property Tax Bills Across Midway City, California

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
92655$211$2,306$4,410$7,502$9,939

Source: Ownwell

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