Newbury Park, California Property Taxes
The median property tax rate in Newbury Park, CA is 1.12%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With a median home value of $593,825 in Newbury Park, the typical annual property tax bill reaches $6,515, significantly exceeding the national median of $2,690. Property taxes in Newbury Park are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Newbury 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 Newbury 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
Newbury Park, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$6,651
$6,172
Ownwell’s Newbury Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newbury Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newbury Park 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Newbury Park, California
Property taxes in Newbury Park, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newbury Park is 1.12%, which is higher than the U.S. national median of 0.99%. Local government entities within Newbury Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newbury 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 Newbury Park's effective property tax rate to other areas and the national median. For comparison, the zip code 91320 has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Newbury Park 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 Newbury Park Tax Rate
1.12%
Average Ventura County Tax Rate
1.13%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newbury Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91320 | 1.07% | 1.09% | 1.12% | 1.17% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Newbury Park, California
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Newbury Park, 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. 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. For instance, the median home price in Newbury Park is $593,825, with tax bills ranging significantly. The highest median tax bill is $6,515 in zip code 91320, which is the same as the lowest median tax bill. 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 Newbury Park, California
Source: Ownwell
$4,006
$799,425
$1,594,844
Average Newbury Park Assessed Value
$593,825
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 Newbury Park, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91320 | $180,049 | $357,490 | $593,825 | $831,186 | $1,083,687 |
Source: Ownwell
Property Tax Bills Across Newbury Park, California
In Newbury Park, property tax bills are calculated based on the assessed value of the property, which is determined by the Ventura County Assessor's Office. The assessed value is typically a percentage of the market value of the home, and in California, Proposition 13 caps the annual increase of the assessed value at 2% unless the property changes ownership or undergoes significant new construction. The property tax rate in Newbury Park is influenced by various local levies and voter-approved measures, contributing to the overall tax bill. For instance, while the national median property tax rate is 0.99%, homeowners in Newbury Park experience different tax burdens. The median home price in Newbury Park is $593,825, leading to a median tax bill of $6,515, which is notably higher than the national median. Tax bills can vary significantly, with the 25th percentile at $4,060 and the 75th percentile at $8,962. This variability affects homeowners differently, impacting their annual financial planning and long-term investment strategies.
Average Newbury Park Tax Bill
$6,515
Average Ventura County Tax Bill
$5,207
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Newbury Park, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91320 | $2,228 | $4,060 | $6,515 | $8,962 | $11,685 |
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 |