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Rancho Santa Margarita, Orange County, California Property Taxes

The median property tax rate in Rancho Santa Margarita, CA is 1.02%, slightly higher than the national median of 0.99% but lower than California's state median of 1.21%. With the median home value in Rancho Santa Margarita at $513,108, the typical annual property tax bill reaches $5,270, significantly exceeding the national median of $2,690. Property taxes in Rancho Santa Margarita are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences. Understanding Rancho Santa Margarita'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 Rancho Santa Margarita 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

Rancho Santa Margarita, Orange County, California Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.02%

Estimate Property Tax Bill

$5,234

$4,857

SAVE WITH OWNWELL

$1,148

Average Tax Savings

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

Property taxes in Rancho Santa Margarita, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rancho Santa Margarita is 1.02%, slightly higher than the U.S. national median of 0.99%. Local government entities within Rancho Santa Margarita set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rancho Santa Margarita 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 Rancho Santa Margarita's effective property tax rate to other areas in Orange County and the national median. For comparison, the 92688 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these rates compare with Rancho Santa Margarita 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 Rancho Santa Margarita, Orange County, California

Source: Ownwell

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1.01%

1.33%

1.65%

Average Rancho Santa Margarita Tax Rate

1.02%

Average Orange County Tax Rate

1.14%

Average California Tax Rate

1.21%

Average United States Tax Rate

0.99%

Property Tax Rates Across Rancho Santa Margarita, Orange County, California

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
926881.00%1.01%1.02%1.04%1.04%

Source: Ownwell

Property Tax Assessment Values Across Rancho Santa Margarita, Orange County, California

In Rancho Santa Margarita, 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 Rancho Santa Margarita, 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. Being aware of these valuation processes in Rancho Santa Margarita helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $513,108, with tax bills ranging from $3,694 at the 25th percentile to $9,114 at the 90th percentile. The zip code 92688 has both the highest and lowest median tax bill of $5,270.

Property Tax Assessment Values Across Rancho Santa Margarita, Orange County, California

Source: Ownwell

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$272,184

$1,289,425

$2,306,666

Average Rancho Santa Margarita Assessed Value

$513,108

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 Rancho Santa Margarita, Orange County, California

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
92688$261,404$362,160$513,108$713,130$886,392

Source: Ownwell

Property Tax Bills Across Rancho Santa Margarita, Orange County, California

In Rancho Santa Margarita, CA, property tax bills are calculated based on the assessed value of the home, which is determined by the Orange County Assessor's Office. The assessed value is a percentage of the property's market value, and the local tax rate is applied to this value to determine the tax bill. Homeowners in Rancho Santa Margarita typically see tax bills ranging from $3,694 at the 25th percentile to $9,114 at the 90th percentile, with the median tax bill standing at $5,270. This is significantly higher than the national median property tax rate of 0.99%, reflecting the high property values in the area. Various factors, including property improvements and market trends, can influence the assessed value and, consequently, the tax bill. Ownwell can help homeowners by providing expert property tax appeal and exemption services. By evaluating your property's assessed value and ensuring it aligns with current market conditions, Ownwell can potentially reduce your tax burden, saving you money.

Property Tax Bills Across Rancho Santa Margarita, Orange County, California

Source: Ownwell

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$3,105

$14,278

$25,450

Average Rancho Santa Margarita Tax Bill

$5,270

Average Orange County Tax Bill

$5,879

Average California Tax Bill

$4,683

Average United States Tax Bill

$2,690

Property Tax Bills Across Rancho Santa Margarita, Orange County, California

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
92688$2,655$3,694$5,270$7,339$9,114

Source: Ownwell

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