Murrieta, California Property Taxes
The median property tax rate in Murrieta, CA is 1.32%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Murrieta at $428,548, the typical annual property tax bill reaches $5,780, exceeding the national median of $2,690. Property taxes in Murrieta 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 Murrieta'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 Murrieta 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
Murrieta, 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 Murrieta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murrieta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murrieta 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 Murrieta, California
Property taxes in Murrieta, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murrieta is 1.32%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Murrieta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murrieta 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 Murrieta's effective property tax rate to other areas in Riverside County and the national median. For comparison, the 92563 zip code has the highest median property tax rate of 1.43%, while the 92562 zip code has the lowest median tax rate of 1.26%. Understanding how these areas compare with Murrieta provides valuable insights into the varying tax landscape across Riverside County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murrieta Tax Rate
1.32%
Average Riverside County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murrieta, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92562 | 1.14% | 1.16% | 1.26% | 1.42% | 1.63% |
| 92563 | 1.09% | 1.18% | 1.43% | 1.67% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Murrieta, California
In Murrieta, 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 Riverside County Assessor's Office 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. 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 Murrieta is $428,548, with tax bills ranging from $4,124 at the 25th percentile to $9,799 at the 90th percentile. The highest median tax bill is $6,138 in the 92563 zip code, while the lowest median tax bill is $5,400 in the 92562 zip code. 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.
Average Murrieta Assessed Value
$428,548
Average Riverside County Assessed Value
$321,125
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murrieta, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92562 | $231,005 | $313,371 | $424,564 | $561,000 | $770,535 |
| 92563 | $235,577 | $326,313 | $430,981 | $523,374 | $631,522 |
Source: Ownwell
Property Tax Bills Across Murrieta, California
In Murrieta, located in Riverside County, CA, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the county assessor and is typically a percentage of the market value. The property tax rate in Murrieta is influenced by local levies and voter-approved measures, contributing to the overall tax bill. Homeowners in Murrieta can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $4,124, while the 75th percentile tax bill reaches approximately $7,718. The 90th percentile tax bill can be as high as $9,799, indicating a wide range of tax obligations based on property value and location within the city. The highest median tax bill in Murrieta is $6,138 in the 92563 zip code, while the lowest median tax bill is $5,400 in the 92562 zip code. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the region. This variation in tax bills can significantly impact homeowners, influencing decisions on property purchases and financial planning.
Average Murrieta Tax Bill
$5,780
Average Riverside County Tax Bill
$4,079
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Murrieta, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92562 | $2,818 | $3,888 | $5,400 | $7,479 | $10,194 |
| 92563 | $2,899 | $4,410 | $6,138 | $7,856 | $9,599 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Riverside Tax Assessor | |
| Website | ca-riverside-acr.publicaccessnow.com |