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Mission Viejo, California Property Taxes

The median property tax rate in Mission Viejo, CA is 1.01%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Mission Viejo at $532,088, the typical annual property tax bill reaches $5,379, significantly surpassing the national median of $2,690. Property taxes in Mission Viejo are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence exemption. Understanding Mission Viejo's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mission Viejo 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

Mission Viejo, California Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.01%

Estimate Property Tax Bill

$5,374

$4,987

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Mission Viejo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mission Viejo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mission Viejo 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 Mission Viejo. 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 Mission Viejo, California

Property taxes in Mission Viejo, CA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mission Viejo is 1.01%, which is slightly higher than the U.S. national median of 0.99%. Local government entities within Mission Viejo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mission Viejo 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 Mission Viejo's effective property tax rate to other areas in Orange County and the national median. For comparison, the 92694 zip code has the highest median property tax rate of 1.33%, while the 92692 zip code has the lowest median tax rate of 1.01%. Understanding how these areas compare with Mission Viejo 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 Mission Viejo, California

Source: Ownwell

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1.01%

1.33%

1.65%

Average Mission Viejo Tax Rate

1.01%

Average Orange County Tax Rate

1.14%

Average California Tax Rate

1.21%

Average United States Tax Rate

0.99%

Property Tax Rates Across Mission Viejo, California

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
926910.99%1.01%1.01%1.03%1.03%
926920.99%1.00%1.01%1.01%1.03%
926941.24%1.30%1.33%1.34%1.42%

Source: Ownwell

Property Tax Assessment Values Across Mission Viejo, California

In Mission Viejo, 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 Mission Viejo, 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. For example, the zip code with the highest median tax bill is 92694 at $21,954, while the lowest is 92691 at $4,779. 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 Mission Viejo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Mission Viejo, California

Source: Ownwell

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$10,700

$1,158,683

$2,306,666

Average Mission Viejo Assessed Value

$532,088

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 Mission Viejo, California

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
92691$161,066$296,647$470,606$735,482$894,744
92692$260,804$388,127$578,147$811,512$1,028,881
92694$763,419$894,484$1,706,742$1,920,410$2,093,689

Source: Ownwell

Property Tax Bills Across Mission Viejo, California

In Mission Viejo, Orange County, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is typically a percentage of the market value, adjusted annually. The median home price in Mission Viejo is $532,088, influencing the overall tax bill. Property tax rates in this area can vary, with the 25th percentile tax bill at $3,406 and the 75th percentile at $7,845, while the highest median tax bill in the nearby zip code 92694 is $21,954. Homeowners in Mission Viejo can find their property taxes substantial, affecting their annual expenses. This is where Ownwell steps in, offering professional property tax appeal and exemption services. By analyzing property assessments and market trends, Ownwell helps homeowners identify potential discrepancies and file appeals to reduce their tax burdens. This can lead to significant savings, ensuring that homeowners pay only their fair share of property taxes.

Property Tax Bills Across Mission Viejo, California

Source: Ownwell

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$118

$12,784

$25,450

Average Mission Viejo Tax Bill

$5,379

Average Orange County Tax Bill

$5,879

Average California Tax Bill

$4,683

Average United States Tax Bill

$2,690

Property Tax Bills Across Mission Viejo, California

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
92691$1,600$2,994$4,779$7,483$9,116
92692$2,592$3,887$5,834$8,185$10,356
92694$9,634$11,240$21,954$25,498$27,211

Source: Ownwell

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