Loma Mar, California Property Taxes
The median property tax rate in Loma Mar, CA is 1.10%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Loma Mar at $413,552, the typical annual property tax bill reaches $4,534, significantly exceeding the national median of $2,690. Property taxes in Loma Mar are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Loma Mar'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 Loma Mar 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
Loma Mar, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
$1,272
$1,148
Average Loma Mar, California Tax Savings
Ownwell’s Loma Mar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loma Mar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loma Mar 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 Loma Mar. 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 Loma Mar, California
Property taxes in Loma Mar, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loma Mar is 1.10%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Loma Mar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loma Mar 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 Loma Mar's effective property tax rate to other counties in California and the national median. For comparison, the 94021 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Loma Mar 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 Loma Mar Tax Rate
1.10%
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 Loma Mar, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94021 | 1.08% | 1.09% | 1.10% | 1.14% | 1.26% |
Source: Ownwell
$1,148
Average Loma Mar Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Loma Mar, California
In Loma Mar, 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 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 Loma Mar, 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 Loma Mar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,534, found in the 94021 zip code.
Property Tax Assessment Values Across Loma Mar, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Loma Mar Assessed Value
$413,552
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 Loma Mar, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94021 | $114,525 | $217,230 | $413,552 | $762,884 | $979,494 |
Source: Ownwell
$1,148
Average Loma Mar Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Loma Mar, California
Property tax bills in Loma Mar, located in San Mateo County, CA, are calculated based on the assessed value of a property, which is typically determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Loma Mar, the median home price stands at $413,552, with property tax bills ranging from $2,464 at the 25th percentile to $12,101 at the 90th percentile. Several factors influence the tax bill, including property improvements, market conditions, and local levies. For homeowners, these taxes can represent a significant annual expense. The highest and lowest median tax bills in the area are both $4,534, indicating a consistent tax rate within the zip code 94021. Ownwell can assist homeowners in Loma Mar by reviewing their property assessments and identifying opportunities for appeals and exemptions. By leveraging expert knowledge and local data, Ownwell helps ensure that homeowners are not overpaying on their property taxes, potentially saving them thousands of dollars annually.
Average Loma Mar Tax Bill
$4,534
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 Loma Mar, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94021 | $1,308 | $2,464 | $4,534 | $8,313 | $12,101 |
Source: Ownwell
$1,148
Average Loma Mar 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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