Menlo Park, California Property Taxes
The median property tax rate in Menlo Park, CA is 1.27%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Menlo Park, the typical annual property tax bill reaches $14,755, exceeding the national median of $2,690. Property taxes in Menlo Park are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Menlo Park'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 Menlo Park 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
Menlo Park, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$14,584
$13,773
$1,148
Average Menlo Park, California Tax Savings
Ownwell’s Menlo Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Menlo Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Menlo Park 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 Menlo Park. 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 Menlo Park, California
Property taxes in Menlo Park, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Menlo Park is 1.27%, higher than the U.S. national median of 0.99%. Local government entities within Menlo Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Menlo Park 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 Menlo Park's effective property tax rate to other counties in California and the national median. For comparison, the 94025 zip code has the highest median property tax rate of 1.27%, while the 94025 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Menlo Park 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 Menlo Park Tax Rate
1.27%
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 Menlo Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94025 | 1.15% | 1.19% | 1.27% | 1.49% | 2.08% |
Source: Ownwell
$1,148
Average Menlo Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Menlo Park, California
In Menlo Park, 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 Menlo Park, 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. The median home price in Menlo Park is $1,148,326, with tax bills ranging significantly. The highest and lowest median tax bills are both $14,758 in the 94025 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Menlo Park, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Menlo Park Assessed Value
$1,148,326
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 Menlo Park, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94025 | $198,346 | $507,183 | $1,148,357 | $2,141,843 | $3,445,500 |
Source: Ownwell
$1,148
Average Menlo Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Menlo Park, California
In Menlo Park, San Mateo County, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. With a median home price of $1,148,326, homeowners face significant tax bills. For example, the 25th percentile tax bill is $7,583, while the 75th percentile reaches $25,858, and the 90th percentile soars to $39,835. These figures highlight the financial burden on homeowners compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value and any applicable exemptions. The assessed value is often lower than the market value, but still, high property values in Menlo Park lead to substantial tax bills. Ownwell can help homeowners reduce their property tax burdens through expert appeal and exemption services. By challenging over-assessments and ensuring all eligible exemptions are applied, Ownwell can potentially save homeowners thousands of dollars annually, making homeownership more affordable in this high-cost area.
Average Menlo Park Tax Bill
$14,755
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 Menlo Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94025 | $4,209 | $7,588 | $14,758 | $25,858 | $39,837 |
Source: Ownwell
$1,148
Average Menlo Park 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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