Lathrop, California Property Taxes
The median property tax rate in Lathrop, CA is 1.78%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Lathrop at $334,990, the typical annual property tax bill reaches $6,464, far exceeding the national median of $2,690. Property taxes in Lathrop 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 Lathrop'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 Lathrop 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
Lathrop, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$5,963
$5,533
Ownwell’s Lathrop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lathrop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lathrop 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 Lathrop, California
Property taxes in Lathrop, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lathrop is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lathrop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lathrop 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 Lathrop's effective property tax rate to other counties in California and the national median. For comparison, the 95330 zip code has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Lathrop provides valuable insights into the varying tax landscape across San Joaquin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lathrop Tax Rate
1.78%
Average San Joaquin County Tax Rate
1.22%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lathrop, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95330 | 1.25% | 1.46% | 1.78% | 2.01% | 4.01% |
Source: Ownwell
Property Tax Assessment Values Across Lathrop, California
In Lathrop, 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 Joaquin 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 Lathrop, 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 Lathrop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lathrop are both $6,464, found in zip code 95330.
Average Lathrop Assessed Value
$334,990
Average San Joaquin County Assessed Value
$273,669
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lathrop, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95330 | $107,100 | $182,012 | $334,990 | $499,300 | $608,160 |
Source: Ownwell
Property Tax Bills Across Lathrop, California
In Lathrop, property tax bills are calculated based on the assessed value of the home, which is determined by the San Joaquin County Assessor's Office. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $334,990, the property tax rate in Lathrop significantly impacts homeowners. The tax bill for the 25th percentile is around $4,180, while those in the 75th percentile pay approximately $9,193. Homeowners in the 90th percentile face tax bills as high as $11,293. These amounts are notably higher than the national median property tax rate of 0.99%. The property tax rate in Lathrop is reflected in the highest and lowest median tax bills, both recorded at $6,464 in the 95330 zip code. This variation in tax bills can affect homeowners' financial planning and housing affordability, making it crucial for them to understand how their property taxes are determined and managed.
Average Lathrop Tax Bill
$6,464
Average San Joaquin County Tax Bill
$3,562
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Lathrop, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95330 | $2,490 | $4,180 | $6,464 | $9,193 | $11,293 |
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 | |
|---|---|
| San Joaquin Tax Assessor | |
| Website | common3.mptsweb.com |