Grand Terrace, California Property Taxes
The median property tax rate in Grand Terrace, CA is 1.26%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Grand Terrace, the typical annual property tax bill reaches $3,423, exceeding the national median of $2,690. Property taxes in Grand Terrace 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 Grand Terrace'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 Grand Terrace 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
Grand Terrace, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
$1,272
$1,148
Average Grand Terrace, California Tax Savings
Ownwell’s Grand Terrace Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Terrace with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Terrace 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 Grand Terrace. 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 Grand Terrace, California
Property taxes in Grand Terrace, California, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Grand Terrace is 1.26%, notably higher than the U.S. national median of 0.99%. Local government entities within Grand Terrace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Terrace 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 Grand Terrace's effective property tax rate to other areas in San Bernardino County and the national median. For comparison, the 92313 zip code has the highest median property tax rate of 1.26%, while the 92324 zip code has the lowest median tax rate of 1.25%. Understanding how these areas compare with Grand Terrace provides valuable insights into the varying tax landscape across San Bernardino County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Terrace Tax Rate
1.26%
Average San Bernardino County Tax Rate
1.20%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Terrace, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92313 | 1.16% | 1.24% | 1.26% | 1.29% | 1.35% |
| 92324 | 0.72% | 1.22% | 1.25% | 1.29% | 1.36% |
Source: Ownwell
$1,148
Average Grand Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Grand Terrace, California
In Grand Terrace, 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 San Bernardino 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 Grand Terrace, 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. The zip code with the highest median tax bill is 92313, at $3,430, while the lowest is 92324, at $3,109. Being aware of these valuation processes in Grand Terrace helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Grand Terrace, California
Source: Ownwell
$1,991
$441,711
$881,430
Average Grand Terrace Assessed Value
$274,996
Average San Bernardino County Assessed Value
$273,138
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Terrace, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92313 | $93,131 | $184,522 | $275,151 | $398,241 | $499,310 |
| 92324 | $112,169 | $181,094 | $242,880 | $404,396 | $477,337 |
Source: Ownwell
$1,148
Average Grand Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Grand Terrace, California
In Grand Terrace, CA, property tax bills are calculated based on the assessed value of your home, which is often lower than the market value. The assessed value is determined by the San Bernardino County Assessor's Office and is subject to annual increases capped by Proposition 13, typically up to 2% per year. For homeowners in Grand Terrace, the median home price is $274,996, resulting in varying tax bills. For example, the 25th percentile tax bill is $2,304, while the 75th percentile reaches $4,898, and the 90th percentile can be as high as $6,102. These tax bills are influenced by factors such as property improvements and local tax rates. Compared to the national median property tax rate of 0.99%, Grand Terrace homeowners face a substantial burden. Ownwell can assist homeowners in reducing this burden by appealing incorrect assessments and identifying potential exemptions. Our expertise ensures that you only pay what is fair, potentially saving you thousands of dollars annually.
Average Grand Terrace Tax Bill
$3,423
Average San Bernardino County Tax Bill
$3,260
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Terrace, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92313 | $1,172 | $2,309 | $3,430 | $4,902 | $6,100 |
| 92324 | $1,498 | $1,907 | $3,109 | $3,895 | $5,747 |
Source: Ownwell
$1,148
Average Grand Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | December 2 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| San Bernardino Tax Assessor | |
| Website | pat.bhamaps.com |
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