Foster City, California Property Taxes
The median property tax rate in Foster City, CA is 1.20%, slightly higher than the national median of 0.99% but just below the California state median of 1.21%. With a median home value of $750,862, the typical annual property tax bill in Foster City reaches $9,050, far exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences. Understanding Foster City'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 Foster City or another part of the area, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Foster City, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$9,010
$8,361
$1,148
Average Tax Savings
Ownwell’s Foster City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foster City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foster City 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 Foster City. 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 Foster City, California
Property taxes in Foster City, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foster City is 1.20%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Foster City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foster City 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 Foster City's effective property tax rate to other areas in California and the national median. For comparison, the 94404 zip code has the highest median property tax rate of 1.20%, while the 94404 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Foster City 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 Foster City Tax Rate
1.20%
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 Foster City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | 1.15% | 1.19% | 1.20% | 1.24% | 1.31% |
Source: Ownwell
$1,148
Average Foster City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Foster City, California
In Foster City, 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 Foster City, 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 Foster City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Foster City are both $9,050, found in the 94404 zip code.
Property Tax Assessment Values Across Foster City, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Foster City Assessed Value
$750,862
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 Foster City, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | $206,780 | $427,334 | $750,862 | $1,197,584 | $1,640,467 |
Source: Ownwell
$1,148
Average Foster City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Foster City, California
In Foster City, located in San Mateo County, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and reflects the market value of the property. Property taxes in Foster City are influenced by various factors, including the median home price, which is currently $750,862. For homeowners, this translates to a tax bill ranging from $5,257 at the 25th percentile to $19,298 at the 90th percentile. The highest and lowest median tax bills in the area both stand at $9,050, indicating a consistent tax rate within the zip code 94404. Ownwell can help homeowners in Foster City save on their property tax bills by providing expert property tax appeal and exemption services. Our team works to ensure that your property is fairly assessed, potentially lowering your tax liability. By leveraging our expertise, homeowners can navigate the complexities of property tax regulations and secure significant savings on their annual tax bills.
Average Foster City Tax Bill
$9,050
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 Foster City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | $2,666 | $5,257 | $9,050 | $14,205 | $19,298 |
Source: Ownwell
$1,148
Average Foster City 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 | November 30 |
| 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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