Santa Margarita, California Property Taxes
The median property tax rate in Santa Margarita, CA is 1.12%, which is higher than both the national median of 0.99% and the California state median of 1.21%. With a median home value of $267,140 in Santa Margarita, the typical annual property tax bill amounts to $2,864, surpassing the national median of $2,690. Property taxes in Santa Margarita are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Santa Margarita'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 Santa Margarita 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
Santa Margarita, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,992
$2,826
Ownwell’s Santa Margarita Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Santa Margarita with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Santa Margarita 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 Santa Margarita, California
Property taxes in Santa Margarita, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Santa Margarita is 1.12%, higher than the U.S. national median of 0.99%. Local government entities within Santa Margarita set these rates annually, and they can vary significantly across different neighborhoods. Each year, Santa Margarita 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 Santa Margarita's effective property tax rate to other areas in San Luis Obispo County and the national median. For comparison, the 93453 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these cities compare with Santa Margarita provides valuable insights into the varying tax landscape across San Luis Obispo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Santa Margarita Tax Rate
1.12%
Average San Luis Obispo County Tax Rate
1.06%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Santa Margarita, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93453 | 1.05% | 1.09% | 1.12% | 1.12% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Santa Margarita, California
In Santa Margarita, 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 Luis Obispo 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. In Santa Margarita, 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 Santa Margarita helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Santa Margarita, the zip code 93453 has the highest and lowest median tax bill, both at $2,864.
Property Tax Assessment Values Across Santa Margarita, California
Source: Ownwell
$25,600
$1,162,088
$2,298,576
Average Santa Margarita Assessed Value
$267,140
Average San Luis Obispo County Assessed Value
$470,020
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Santa Margarita, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93453 | $47,318 | $120,437 | $267,140 | $494,988 | $699,385 |
Source: Ownwell
Property Tax Bills Across Santa Margarita, California
In Santa Margarita, CA, property tax bills are calculated based on the assessed value of a home, which is typically determined by the county assessor. The assessed value is influenced by factors such as the property's market value, recent sales data, and any improvements made to the property. Homeowners in Santa Margarita see a range of property tax bills, with the 25th percentile paying around $1,312 annually, while those in the 75th percentile pay approximately $5,307. The 90th percentile faces even higher bills, reaching up to $7,667. The median home price in Santa Margarita is $267,140, and the property tax rate in San Luis Obispo County is relatively moderate compared to the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations.
Average Santa Margarita Tax Bill
$2,864
Average San Luis Obispo County Tax Bill
$5,157
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Santa Margarita, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93453 | $565 | $1,312 | $2,864 | $5,307 | $7,667 |
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 Luis Obispo Tax Assessor | |
| Website | propertyinquiryportal.slocounty.ca.gov |