Homewood, California Property Taxes
The median property tax rate in Homewood, CA is 1.22%, slightly higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Homewood, the typical annual property tax bill reaches $6,038, significantly exceeding the national median of $2,690. Property taxes in Homewood 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 Homewood'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 Homewood 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
Homewood, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Homewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homewood 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Homewood, California
Property taxes in Homewood, CA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Homewood is 1.22%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Homewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homewood 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 Homewood's effective property tax rate to other counties in California and the national median. For comparison, the 96141 zip code has the highest median property tax rate of 1.22%, while the 96141 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Homewood provides valuable insights into the varying tax landscape across Placer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homewood Tax Rate
1.22%
Average Placer County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homewood, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96141 | 1.08% | 1.12% | 1.22% | 1.42% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Homewood, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Homewood, CA. 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 Placer County Appraisal District 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 Homewood, 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 Homewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $6,038, found in zip code 96141, while the lowest median tax bill is also $6,038 in the same zip code.
Average Homewood Assessed Value
$531,195
Average Placer County Assessed Value
$464,229
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homewood, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96141 | $90,772 | $220,754 | $531,195 | $1,071,000 | $2,439,341 |
Source: Ownwell
Property Tax Bills Across Homewood, California
In Homewood, located in Placer 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 property's market value. For example, with a median home price of $531,195, the tax bill can vary significantly depending on the precise assessed value and applicable tax rates. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. In Homewood, the property tax bill at the 25th percentile is around $2,902, while at the 75th percentile, it can reach up to $11,162. For those at the higher end, the 90th percentile tax bill can soar to $25,914. These figures show a wide range, reflecting differences in property values and assessment practices. Homeowners in Homewood should be aware of how these assessments impact their annual tax obligations. Comparing these figures to the national median property tax rate of 0.99%, it's clear that property taxes in Homewood can be significantly higher, affecting overall affordability and financial planning for residents.
Average Homewood Tax Bill
$6,038
Average Placer County Tax Bill
$5,446
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Homewood, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96141 | $1,722 | $2,902 | $6,038 | $11,162 | $25,914 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Placer Tax Assessor | |
| Website | common1.mptsweb.com |