Tracy, California Property Taxes
The median property tax rate in Tracy, CA is 1.15%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Tracy, the typical annual property tax bill reaches $5,691, exceeding the national median of $2,690. Property taxes in Tracy 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 Tracy'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 Tracy 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
Tracy, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$5,029
$4,666
Ownwell’s Tracy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tracy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tracy 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 Tracy, California
Property taxes in Tracy, California, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Tracy is 1.15%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Tracy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tracy 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 Tracy's effective property tax rate to other areas in San Joaquin County and the national median. For comparison, the 95391 zip code has the highest median property tax rate of 1.64%, while the 95376 zip code has the lowest median tax rate of 1.10%. Understanding how these cities compare with Tracy 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 Tracy Tax Rate
1.15%
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 Tracy, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95206 | N/A | N/A | N/A | N/A | N/A |
| 95304 | 1.07% | 1.10% | 1.16% | 1.41% | 1.55% |
| 95376 | 1.06% | 1.09% | 1.10% | 1.13% | 1.15% |
| 95377 | 1.09% | 1.12% | 1.35% | 1.52% | 1.74% |
| 95391 | 1.51% | 1.57% | 1.64% | 1.82% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Tracy, California
In Tracy, 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 Tracy, 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. For instance, the median home price in Tracy is $437,276, with the 25th percentile tax bill at $3,675 and the 75th percentile tax bill at $8,520. The highest median tax bill is $9,886 in the 95391 zip code, while the lowest is $3,642 in the 95376 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 Tracy Assessed Value
$437,276
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 Tracy, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95206 | N/A | N/A | N/A | N/A | N/A |
| 95304 | $66,895 | $252,548 | $486,777 | $682,812 | $892,000 |
| 95376 | $124,987 | $216,656 | $322,326 | $448,295 | $557,448 |
| 95377 | $268,008 | $346,582 | $479,224 | $604,988 | $729,333 |
| 95391 | $320,574 | $461,959 | $601,502 | $725,230 | $846,491 |
Source: Ownwell
Property Tax Bills Across Tracy, California
In Tracy, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the San Joaquin County Assessor's Office. This assessed value is typically a percentage of the property's market value. The median home price in Tracy is $437,276, and property owners can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $3,675, while at the 75th percentile, it rises to about $8,520. The 90th percentile tax bill can reach as high as $11,194. Several factors influence these tax bills, including the property's location within specific zip codes. For example, the highest median tax bill is $9,886 in the 95391 zip code, whereas the lowest median tax bill is $3,642 in the 95376 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Tracy may face higher or lower tax obligations depending on their property's assessed value and location, impacting their overall financial planning and budgeting.
Average Tracy Tax Bill
$5,691
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 Tracy, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 95206 | N/A | N/A | N/A | N/A | N/A |
| 95304 | $2,821 | $4,745 | $7,032 | $9,337 | $11,579 |
| 95376 | $1,508 | $2,462 | $3,642 | $5,026 | $6,301 |
| 95377 | $3,703 | $4,975 | $6,331 | $8,044 | $10,763 |
| 95391 | $6,433 | $8,290 | $9,886 | $11,606 | $13,074 |
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 |