Colma, San Mateo County, California Property Taxes

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Colma’s effective property tax rate to other cities in CA and the median property tax rates in CA and the U.S.

In San Mateo County, where Colma is located, the property tax rate stands at 1.32%, which is above the national median property tax rate of 1.02%. This means that homeowners in Colma are likely to pay more in property taxes compared to the national average. Interestingly, within San Mateo County, the tax rate is consistent, with the highest and lowest median tax rate both being 1.32%, reflecting a uniform approach to property taxation in the area. Understanding this can help homeowners make informed decisions about property investments and financial planning in Colma.

In Colma, located in San Mateo County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. Homeowners in Colma face a median property tax bill of $6,442, significantly higher than the national median of $2,400, reflecting the region's higher property values. The tax bill can vary widely, with the 25th percentile at $3,781 and the 90th percentile reaching $12,568, indicating a broad range of property values and corresponding tax liabilities.

Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or reductions. High property taxes can significantly impact homeowners, often leading to financial strain. Ownwell assists homeowners by providing expert property tax appeal and exemption services to help reduce their tax burden. By analyzing property assessments and identifying potential discrepancies or opportunities for exemptions, Ownwell can help homeowners achieve substantial savings on their property tax bills.