The “Wanting Glass” ponders financial and actual property tendencies by way of two distinct lenses: the optimist’s “glass half-full” and the pessimist’s “glass half-empty.”
Buzz: California property tax payments – as a slice of a house’s worth – look low on a nationwide yardstick.
Supply: My trusty spreadsheet reviewed 2022 property tax funds for single-family houses in 188 counties with 100,000 residences, as compiled by actual property knowledge tracker Attom.
Debate: How a lot can Californians complain about their property taxes when Proposition 13 limits huge jumps in valuations used to calculate these authorities levies?
Glass half-full
Six of California’s huge counties have been amongst 50 of the 188 with the bottom common “efficient” property tax charges final yr – that’s tax payments as a share of the property’s worth. San Mateo was thirty second highest of the 188 at 0.58%, Santa Clara, No. 34 at 0.59%, Orange, No. 36 at 0.60%, San Diego, No. 40 at 0.62%, Los Angeles, No. 45 at 0.65%, and Alameda, No. 49 at 0.66%.
These low charges are tied to long-term owners whose house valuations go up not more than 2% a yr. Latest California consumers pay far greater taxes based mostly on buy costs which have grown way over 2% yearly.
Listed below are the common efficient tax charges of different huge California counties: Ventura (No. 51) at 0.66%, San Bernardino (No. 54) at 0.68%, Tulare (No. 63) at 0.72%, Stanislaus (No. 66) at 0.73%, Sonoma (No. 68) at 0.74%, Contra Costa (No. 74) at 0.75%, Sacramento (No. 76) at 0.76%, San Joaquin (No. 77) at 0.77%, Fresno (No. 82) at 0.79%, Solano (No. 84) at 0.79%, Placer (No. 92) at 0.83%, Riverside (No. 93) at 0.84%, and Kern (No. 106) at 0.95%.
By the best way, the nationwide efficient fee was 0.83%.
Glass half-empty
On account of lofty house values in most components of the state, these low efficient charges masks the massive checks Californians write for his or her property values.
9 California counties ranked among the many prime 50 with the biggest property tax payments in 2022: San Mateo (No. 4 of the 188) at $12,266, Santa Clara (No. 5) at $11,932, Alameda (No. 19) at $8,887, Contra Costa (No. 21) at $8,300, Orange (No. 23) at $7,983, Los Angeles (No. 29) at $7,305, San Diego (No. 34) at $7,100, Sonoma (No. 48) at $6,512 and Ventura (No. 49) at $6,441.
Three counties close to New York Metropolis had the most important tax payments: New Jersey’s Essex ($13,168) and Bergen ($13,115) and New York’s Nassau ($12,890).
It’s noteworthy that 4 huge California counties had tax payments under the U.S. common of $3,901 – Stanislaus (No. 118) at $3,535, Kern (No. 126) at $3,304, Fresno (No. 132) at $3,257 and Tulare (No. 163) at $2,382.
Tax payments in different huge California counties: Placer (No. 51 of 188) at $6,271, Riverside (No. 61) at $5,524, Solano (No. 78) at $4,944, San Joaquin (No. 91) at $4,383, Sacramento (No. 92) at $4,348, San Bernardino (No. 106) at $3,976.
Backside Line
Californians can not gripe too harshly about their actual property taxes.
The statewide efficient tax fee of 0.66% of a house’s worth ranks thirty first among the many states. However the tax invoice itself, averaging $6,492 throughout the state, was sixth highest within the nation.
These tax payments will not be terribly far off from financial rival Texas with its 1.25% fee (No. 9) and $4,822 invoice (No. 10).
However ponder Florida’s 0.67% fee (No. 27) and $4,085 invoice (No. 12). Or look a low property taxes in neighboring states fashionable with ex-Californians: Nevada – 0.44% fee (No. 40) and $2,521 invoice (No. 30) – and Arizona – 0.39% fee (No. 43) and $2,220 invoice (No. 32).
Jonathan Lansner is the enterprise columnist for the Southern California Information Group. He could be reached at jlansner@scng.com