Los Olivos, California Property Taxes
The median property tax rate in Los Olivos, CA is 1.14%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Los Olivos at $750,025, the typical annual property tax bill reaches $8,307, exceeding the national median of $2,690. Property taxes in Los Olivos 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 Los Olivos'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 Los Olivos 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
Los Olivos, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$8,550
$7,934
$1,148
Average Tax Savings
Ownwell’s LOS OLIVOS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOS OLIVOS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOS OLIVOS 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 LOS OLIVOS. 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 Los Olivos, California
Property taxes in Los Olivos, CA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Los Olivos is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Los Olivos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Los Olivos 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 Los Olivos' effective property tax rate to other areas in Santa Barbara County and the national median. For comparison, the 93441 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these areas compare with Los Olivos provides valuable insights into the varying tax landscape across Santa Barbara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Los Olivos Tax Rate
1.14%
Average Santa Barbara County Tax Rate
1.09%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Los Olivos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93441 | 1.05% | 1.08% | 1.14% | 1.20% | 1.31% |
Source: Ownwell
$1,148
Average Los Olivos Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Los Olivos, California
In Los Olivos, 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 Santa Barbara 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 Los Olivos, 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. The median home price in Los Olivos is $750,025, with tax bills ranging from $4,900 at the 25th percentile to $17,911 at the 90th percentile. The zip code 93441 has the highest and lowest median tax bill, both at $8,307. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Los Olivos, California
Source: Ownwell
$33,414
$1,094,682
$2,155,949
Average Los Olivos Assessed Value
$750,025
Average Santa Barbara County Assessed Value
$420,000
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Los Olivos, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93441 | $210,619 | $414,378 | $750,025 | $1,257,301 | $1,790,680 |
Source: Ownwell
$1,148
Average Los Olivos Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Los Olivos, California
In Los Olivos, property tax bills are calculated based on the assessed value of a home, which is determined by the Santa Barbara County Assessor's Office. The assessed value typically starts with the home's purchase price and may increase annually by up to 2% under California's Proposition 13. Homeowners in Los Olivos face varying tax bills, with the 25th percentile paying around $4,900, while those in the 90th percentile see bills as high as $17,911. The median home price in the area is $750,025, contributing to the relatively high property tax bills compared to the national median property tax rate of 0.99%. Factors such as property improvements and market conditions can also influence the assessed value and, consequently, the tax bill. Ownwell helps homeowners in Los Olivos by identifying potential errors in property assessments and filing appeals to ensure a fair valuation. By leveraging their expertise, homeowners can potentially save thousands on their property tax bills, making homeownership more affordable.
Average Los Olivos Tax Bill
$8,307
Average Santa Barbara County Tax Bill
$4,701
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Los Olivos, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93441 | $2,626 | $4,900 | $8,307 | $13,051 | $17,911 |
Source: Ownwell
$1,148
Average Los Olivos 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 | |
|---|---|
| Santa Barbara Tax Assessor | |
| Website | www.sbcvote.com |
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