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Portola Valley, California Property Taxes

The median property tax rate in Portola Valley, CA is 1.19%, which is considerably higher than the national median of 0.99%, yet slightly below the California state median of 1.21%. With the median home value in Portola Valley at $2,623,141, the typical annual property tax bill reaches $29,288, significantly surpassing the national median of $2,690. Property taxes in Portola Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Portola Valley'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 Portola Valley 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

Portola Valley, California Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.19%

Estimate Property Tax Bill

$31,215

$29,480

SAVE WITH OWNWELL

$1,148

Average Portola Valley, California Tax Savings

Ownwell’s Portola Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portola Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portola Valley 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 Portola Valley. 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 Portola Valley, California

Property taxes in Portola Valley, CA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portola Valley is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within Portola Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portola Valley 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 Portola Valley's effective property tax rate to other areas in Santa Clara County and the national median. For comparison, the 94028 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these figures compare with Portola Valley provides valuable insights into the varying tax landscape across Santa Clara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Portola Valley, California

Source: Ownwell

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0.91%

1.50%

2.09%

Average Portola Valley Tax Rate

1.19%

Average Santa Clara County Tax Rate

1.31%

Average California Tax Rate

1.21%

Average United States Tax Rate

0.99%

Property Tax Rates Across Portola Valley, California

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
940281.17%1.17%1.19%1.21%1.28%

Source: Ownwell

Property Tax Assessment Values Across Portola Valley, California

In Portola Valley, 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 Clara 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 Portola Valley, 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 Portola Valley 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 $29,288, found in the zip code 94028.

Property Tax Assessment Values Across Portola Valley, California

Source: Ownwell

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$41,240

$1,437,154

$2,833,068

Average Portola Valley Assessed Value

$2,623,141

Average Santa Clara County Assessed Value

$683,381

Average California Assessed Value

$378,421

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Portola Valley, California

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
94028$527,099$982,944$2,623,141$7,110,558$10,344,428

Source: Ownwell

Property Tax Bills Across Portola Valley, California

In Portola Valley, CA, property tax bills are calculated based on the assessed value of the home, which is determined by the Santa Clara County Assessor's Office. The assessed value is typically a percentage of the market value of the property. Homeowners in Portola Valley face a median home price of $2,623,141, leading to substantial tax bills. For instance, the tax bill at the 25th percentile is $11,131, while at the 90th percentile, it can soar to $119,363. These figures are significantly higher than the national median property tax rate of 0.99%. Several factors affect the tax bill, including the property's location, improvements, and any applicable exemptions. High property taxes can be a financial burden for homeowners, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed, potentially leading to significant savings. By leveraging Ownwell's expertise, Portola Valley homeowners can reduce their property tax bills and alleviate financial stress.

Property Tax Bills Across Portola Valley, California

Source: Ownwell

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$374

$16,767

$33,160

Average Portola Valley Tax Bill

$29,288

Average Santa Clara County Tax Bill

$8,895

Average California Tax Bill

$4,683

Average United States Tax Bill

$2,690

Property Tax Bills Across Portola Valley, California

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
94028$4,476$11,131$29,288$81,901$119,363

Source: Ownwell

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