Redwood City, California Property Taxes
The median property tax rate in Redwood City, CA is 1.21%, considerably higher than the national median of 0.99%. With the median home value in Redwood City at $774,278, the typical annual property tax bill reaches $9,340, exceeding the national median of $2,690. Property taxes in Redwood City 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 Redwood 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 Redwood City 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
Redwood City, 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 Redwood City, California Tax Savings
Ownwell’s Redwood City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redwood City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redwood 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 Redwood 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 Redwood City, California
Property taxes in Redwood City, California, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Redwood City is 1.21%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Redwood City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redwood 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 Redwood City's effective property tax rate to other areas in San Mateo County and the national median. For comparison, the 94063 zip code has the highest median property tax rate of 1.35%, while the 94062 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Redwood 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 Redwood City Tax Rate
1.21%
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 Redwood City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94061 | 1.09% | 1.14% | 1.19% | 1.32% | 1.74% |
| 94062 | 1.10% | 1.13% | 1.18% | 1.30% | 1.70% |
| 94063 | 1.16% | 1.23% | 1.35% | 1.58% | 2.11% |
| 94065 | 1.12% | 1.15% | 1.20% | 1.27% | 1.37% |
Source: Ownwell
$1,148
Average Redwood City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Redwood City, California
In Redwood 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 Assessor 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 Redwood 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 Redwood City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Redwood City is $10,919 in the 94062 zip code, while the lowest median tax bill is $6,524 in the 94063 zip code.
Property Tax Assessment Values Across Redwood City, California
Source: Ownwell
$310,349
$1,947,376
$3,584,402
Average Redwood City Assessed Value
$774,278
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 Redwood City, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94061 | $143,418 | $378,744 | $766,429 | $1,268,430 | $1,811,188 |
| 94062 | $161,486 | $423,798 | $924,440 | $1,600,857 | $2,268,285 |
| 94063 | $148,895 | $293,406 | $518,182 | $882,482 | $1,247,165 |
| 94065 | $358,107 | $582,458 | $876,638 | $1,274,152 | $1,704,452 |
Source: Ownwell
$1,148
Average Redwood City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Redwood City, California
Property tax bills in Redwood City, San Mateo County, CA, are calculated based on the assessed value of your property, which is often lower than the market value. The local property tax rate is applied to this assessed value to determine your annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Redwood City face a wide range of tax bills, with the 25th percentile paying around $5,138 and the 75th percentile paying up to $14,632. The highest median tax bill in the area is $10,919 in zip code 94062, while the lowest is $6,524 in zip code 94063. This can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Ownwell can help homeowners by providing expert property tax appeal and exemption services, potentially lowering your assessed value and, consequently, your tax bill. By leveraging local knowledge and expertise, Ownwell ensures you're not overpaying, helping you keep more money in your pocket.
Average Redwood City Tax Bill
$9,340
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 Redwood City, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94061 | $2,513 | $4,941 | $9,211 | $14,703 | $20,568 |
| 94062 | $2,743 | $5,518 | $10,919 | $18,357 | $25,581 |
| 94063 | $1,954 | $3,880 | $6,524 | $10,728 | $14,822 |
| 94065 | $4,668 | $7,325 | $10,531 | $14,965 | $19,880 |
Source: Ownwell
$1,148
Average Redwood 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 | 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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