Penryn, California Property Taxes
The median property tax rate in Penryn, CA is 1.13%, which is higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Penryn at $502,448, the typical annual property tax bill reaches $5,438, significantly exceeding the national median of $2,690. Property taxes in Penryn are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Penryn'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 Penryn 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
Penryn, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$5,678
$5,269
Ownwell’s Penryn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Penryn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Penryn 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 Penryn, California
Property taxes in Penryn, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penryn is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within Penryn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penryn 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 Penryn's effective property tax rate to other counties in California and the national median. For comparison, the 95663 zip code has the highest median property tax rate of 1.13%, while the 95663 zip code has the lowest median tax rate of 1.13%. Understanding how these cities compare with Penryn 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 Penryn Tax Rate
1.13%
Average Placer County Tax Rate
1.14%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Penryn, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95663 | 1.07% | 1.10% | 1.13% | 1.17% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Penryn, California
In Penryn, 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 Placer 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 Penryn, 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 Penryn is $502,448, with property tax bills ranging from $3,752 at the 25th percentile to $11,247 at the 90th percentile. The highest and lowest median tax bills in Penryn are both $5,438, found in the 95663 zip code. 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 Penryn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Penryn Assessed Value
$502,448
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 Penryn, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95663 | $161,860 | $331,360 | $502,448 | $779,299 | $1,041,177 |
Source: Ownwell
Property Tax Bills Across Penryn, California
In Penryn, property tax bills are calculated based on the assessed value of a home, which is typically determined by the market value at the time of purchase. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Placer County, where Penryn is located, the tax rate is influenced by various factors, including local government budgets, school funding, and public services. Homeowners in Penryn can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $3,752, while the 75th percentile reaches $8,319. For those at the 90th percentile, the tax bill can climb to $11,247. The median home price in Penryn is $502,448, which, when compared to the national median property tax rate of 0.99%, shows that local tax rates can be higher due to the specific needs and budgets of the area. These property taxes directly impact homeowners by contributing to community services and infrastructure, but they also represent a significant annual expense that must be planned for.
Average Penryn Tax Bill
$5,438
Average Placer County Tax Bill
$5,446
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Penryn, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95663 | $2,015 | $3,752 | $5,438 | $8,319 | $11,247 |
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 |