Westlake Village, California Property Taxes
The median property tax rate in Westlake Village, CA is 1.15%, which is considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Westlake Village at $758,240, the typical annual property tax bill reaches $8,699, significantly exceeding the national median of $2,690. Property taxes in Westlake Village 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 Westlake Village'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 Westlake Village 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
Westlake Village, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$8,720
$8,092
Ownwell’s Westlake Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westlake Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westlake Village 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 Westlake Village, California
Property taxes in Westlake Village, California, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westlake Village is 1.15%, which is higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Westlake Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westlake Village 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 Westlake Village's effective property tax rate to other areas in Ventura County and the national median. For comparison, the 91361 zip code has the highest median property tax rate of 1.21%, while the 91362 zip code has the lowest median tax rate of 1.11%. Understanding how these areas compare with Westlake Village 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 Westlake Village Tax Rate
1.15%
Average Ventura County Tax Rate
1.13%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westlake Village, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91361 | 1.10% | 1.15% | 1.21% | 1.34% | 1.63% |
| 91362 | 1.05% | 1.07% | 1.11% | 1.17% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Westlake Village, California
In Westlake Village, 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 Ventura County Appraisal District 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 Westlake Village, 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 Westlake Village is $758,240, with tax bills ranging from $5,699 at the 25th percentile to $21,982 at the 90th percentile. The highest median tax bill is $9,302 in the 91362 zip code, while the lowest is $8,167 in the 91361 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Property Tax Assessment Values Across Westlake Village, California
Source: Ownwell
$4,006
$799,425
$1,594,844
Average Westlake Village Assessed Value
$758,240
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 Westlake Village, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91361 | $221,522 | $430,128 | $692,912 | $1,049,352 | $1,502,174 |
| 91362 | $303,949 | $508,627 | $842,158 | $1,591,510 | $2,597,405 |
Source: Ownwell
Property Tax Bills Across Westlake Village, California
In Westlake Village, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Westlake Village is $758,240. Factors such as property location, home size, and improvements can influence the assessed value. In Ventura County, where Westlake Village is located, tax bills can vary significantly. For instance, the 25th percentile tax bill is $5,699, while the 75th percentile tax bill reaches $13,254, and the 90th percentile tax bill can go up to $21,982. Homeowners in Westlake Village may face higher tax bills compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $9,302 in the 91362 zip code, while the lowest is $8,167 in the 91361 zip code. These variations can impact homeowners differently, potentially affecting their financial planning and long-term investment in their property. Understanding these factors is crucial for homeowners to anticipate their tax liabilities accurately.
Average Westlake Village Tax Bill
$8,699
Average Ventura County Tax Bill
$5,207
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Westlake Village, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91361 | $3,463 | $5,599 | $8,167 | $11,817 | $15,739 |
| 91362 | $3,673 | $5,830 | $9,302 | $16,830 | $26,590 |
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 |