Thermal, California Property Taxes
The median property tax rate in Thermal, CA is 1.48%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Thermal, the typical annual property tax bill reaches $1,079, exceeding the national median of $2,690. Property taxes in Thermal 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 Thermal'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 Thermal 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
Thermal, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$979
$908
Ownwell’s Thermal Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Thermal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thermal to estimate your property tax bill. This valuable 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 Riverside County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thermal, California
Property taxes in Thermal, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thermal is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Thermal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thermal 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 Thermal's effective property tax rate to other counties in California and the national median. For comparison, the 92274 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Thermal 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 Thermal Tax Rate
1.48%
Average Riverside County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | 1.15% | 1.26% | 1.48% | 1.72% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Thermal, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thermal, 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 Riverside 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 Thermal, 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 Thermal is $66,136, with property tax bills ranging from $536 at the 25th percentile to $4,988 at the 90th percentile. Notably, the zip code 92274 has the highest median tax bill of $1,079. 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 their tax burden.
Average Thermal Assessed Value
$66,136
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 Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | $11,650 | $41,432 | $66,136 | $136,068 | $347,537 |
Source: Ownwell
Property Tax Bills Across Thermal, California
In Thermal, located in Riverside County, CA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Riverside County Assessor's Office and is typically a percentage of the market value of the property. The median home price in Thermal is $66,136, which influences the overall tax bill homeowners can expect. Tax bills in Thermal vary significantly, with the 25th percentile tax bill at $536 and the 75th percentile tax bill at $2,470. For those in the 90th percentile, tax bills can reach up to $4,988. These variations depend on factors such as property size, location, and any applicable exemptions. Homeowners in Thermal experience different impacts on their finances based on these tax rates. For example, a homeowner with a median tax bill of $1,079 in the zip code 92274 may find their tax burden more manageable compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better prepare for their annual property tax obligations.
Average Thermal Tax Bill
$1,079
Average Riverside County Tax Bill
$4,079
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Thermal, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92274 | $180 | $536 | $1,079 | $2,470 | $4,988 |
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 |