Colma, California Property Taxes
The median property tax rate in Colma, CA is 1.32%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Colma at $481,720, the typical annual property tax bill reaches $6,442, far exceeding the national median of $2,690. Property taxes in Colma are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Colma'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 Colma 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
Colma, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$6,359
$6,005
$1,148
Average Colma, California Tax Savings
Ownwell’s Colma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colma 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 Colma. 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 Colma, California
Property taxes in Colma, California, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Colma is 1.32%, significantly higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Colma set these rates annually, and they can vary across different neighborhoods. Each year, Colma 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 Colma's effective property tax rate to other counties in California and the national median. For comparison, the 94014 zip code has the highest median property tax rate of 1.32%, while the same zip code, 94014, also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Colma provides valuable insights into the varying tax landscape across San Mateo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colma Tax Rate
1.32%
Average San Mateo County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colma, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94014 | 1.20% | 1.24% | 1.32% | 1.56% | 1.85% |
Source: Ownwell
$1,148
Average Colma Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Colma, California
In Colma, 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 Mateo County Appraisal District 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 Colma, 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 Colma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 94014 in Colma has the highest median tax bill at $6,442, which is significantly above the national median property tax rate of 0.99%.
Average Colma Assessed Value
$481,720
Average San Mateo County Assessed Value
$685,382
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colma, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94014 | $85,134 | $220,332 | $481,720 | $815,244 | $1,044,240 |
Source: Ownwell
$1,148
Average Colma Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Colma, California
In Colma, San Mateo County, CA, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Colma face a median property tax rate of 0.99%, matching the national average. For instance, with a median home price of $481,720, homeowners can expect a tax bill around $4,767 annually. However, tax bills can vary significantly, ranging from $3,781 at the 25th percentile to $12,568 at the 90th percentile, highlighting the importance of accurate assessments. Several factors influence the tax bill, including property improvements, location, and market fluctuations. High tax bills can strain homeowner finances, making it crucial to ensure fair assessments. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax burden. By leveraging local expertise and market data, Ownwell helps homeowners navigate the complexities of property tax assessments, ensuring they pay only their fair share.
Average Colma Tax Bill
$6,442
Average San Mateo County Tax Bill
$8,692
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Colma, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94014 | $1,772 | $3,781 | $6,442 | $10,099 | $12,568 |
Source: Ownwell
$1,148
Average Colma 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 Mateo Tax Assessor | |
| Website | county-taxes.net |
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