Malibu, California Property Taxes
The median property tax rate in Malibu, CA is 1.07%, higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Malibu at $865,403, the typical annual property tax bill reaches $10,698, significantly exceeding the national median of $2,690. Property taxes in Malibu are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Malibu'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 Malibu 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
Malibu, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$9,260
$8,593
Ownwell’s Malibu Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malibu with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malibu to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Ventura County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Malibu, California
Property taxes in Malibu, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malibu is 1.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Malibu set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malibu 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 Malibu's effective property tax rate to other areas in California and the national median. For comparison, the 90265 zip code has the highest median property tax rate of 1.07%, while it also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Malibu provides valuable insights into the varying tax landscape across Ventura County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malibu Tax Rate
1.07%
Average Ventura County Tax Rate
1.13%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malibu, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90265 | 1.04% | 1.07% | 1.07% | 1.36% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Malibu, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Malibu, CA. 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 Ventura 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 Malibu, 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. Malibu's median home price is $865,403, with tax bills ranging from $6,622 at the 25th percentile to $34,867 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $10,698, found in the 90265 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Malibu Assessed Value
$865,403
Average Ventura County Assessed Value
$465,193
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malibu, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90265 | $240,867 | $466,725 | $865,403 | $2,054,639 | $3,319,097 |
Source: Ownwell
Property Tax Bills Across Malibu, California
In Malibu, located in Ventura County, CA, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the county assessor and typically reflects the market value at the time of purchase, adjusted annually for inflation or improvements. The property tax rate in Malibu is influenced by various local and state levies, but it generally aligns with California's Proposition 13, which caps the annual increase in assessed value at 2%. Homeowners in Malibu face a range of property tax bills. For instance, the 25th percentile tax bill is $6,622, while the 75th percentile reaches $19,144, and the 90th percentile can soar to $34,867. These figures highlight the variability in tax burdens depending on property values and specific assessments. Compared to the national median property tax rate of 0.99%, Malibu's rates can be significantly higher, reflecting the area's high property values. Consequently, homeowners must budget for these taxes, which can substantially impact their annual expenses.
Average Malibu Tax Bill
$10,698
Average Ventura County Tax Bill
$5,207
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Malibu, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 90265 | $3,882 | $6,622 | $10,698 | $19,144 | $34,867 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Ventura Tax Assessor | |
| Website | assessor.countyofventura.org |