Example of Mono County Property Tax Calculation
If you own property in Mono County, California, your property tax is calculated based on its assessed value. The assessed value is determined by the Mono County Assessor's Office, who assesses the value of the property every year.
To calculate the property tax, the assessed value is multiplied by the current property tax rate in Mono County. The tax rate is set by the Mono County Board of Supervisors and varies depending on the location of the property and any special assessments that apply.
For example, if a property in Mono County is assessed at $300,000 and the property tax rate is 1%, the property tax would be $3,000 per year. If there are any special assessments, such as a school or fire district tax, those would be added to the total property tax amount.
It's important to note that property taxes in California are paid in two installments each year, due on November 1st and February 1st. Failure to pay property taxes on time can result in penalties and interest charges.
Overall, calculating property taxes in Mono County is a straightforward process based on the assessed value and current tax rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Mono County Property Tax Rates
The Mono County Property Tax rates for the year 2021-2022 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.5938 |
| County Library | $0.0333 |
| County Fire | $0.0122 |
| County Parks | $0.0100 |
| County Schools | $0.0173 |
| County Waterworks | $0.0818 |
| Community Services Districts | $0.1199 |
| Bridgeport Public Utilities District | $0.0272 |
| Coleville/Walker Sanitation District | $0.0700 |
| June Lake Public Utility District | $0.0917 |
| Lee Vining Public Utility District | $0.0704 |
| Mammoth Lakes Tourism Business Improvement District | $0.0500 |
| Antelope Valley Mosquito Abatement District | $0.0175 |
The table above provides the Mono County Property Tax rates for various taxes per $100 of assessed value. These rates are effective for the fiscal year 2021-2022 and are subject to change in the future. It is important to note that property owners in Mono County may be subject to additional taxes and fees depending on their specific location and circumstances.
Who sets property tax rates in Mono County ?
The property tax rates in Mono County are set by the Mono County Board of Supervisors. This board is made up of five members who are elected by the residents of the county. They determine the rates during their annual budget process which usually takes place in June. The property tax rates are based on the assessed value of the property and are used to fund various county services such as schools, public safety, and infrastructure. It is important for property owners to stay informed about changes in property tax rates as it can affect their budget and financial planning.
| Who sets the property tax rates? | Mono County Board of Supervisors |
|---|---|
| How are the rates determined? | During the annual budget process |
| When does this process take place? | Usually in June |
| What do the property tax rates fund? | Various county services such as schools, public safety, and infrastructure |
Homestead exemptions in Mono County ?
To make it easier for Mono County residents in California to understand their Homestead exemptions and deductions, here is a table with columns for exemption, eligibility, amount, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic | Must be the primary resident of the home, and it must be their primary residence. | Up to $7,000 in assessed value reduction. | This exemption applies to all counties in California. |
| Senior Citizens | Must be 65 years of age or older, or blind, or disabled. Must also be the primary resident of the home, and it must be their primary residence. | Up to $29,000 in assessed value reduction. | Income restrictions apply. |
| Disabled Veterans | Must be a veteran who was disabled as a result of military service, or the unmarried surviving spouse of such a veteran. The home must be their primary residence. | Up to $139,437 in assessed value reduction. | This exemption applies to all counties in California. |
| Homeowners' Exemption | Must be the primary resident of the home, and it must be their primary residence. | Up to $7,000 in assessed value reduction. | This exemption applies to all counties in California. |
| Parent-Child Transfers | Transfers of real property between parents and their children may be excluded from property tax reassessment. | Exclusion of reassessment up to $1 million in assessed value. | Certain conditions apply. |
It's important for Mono County residents to note that eligibility requirements and amounts may vary depending on individual circumstances. It's recommended to consult with a tax professional or the Mono County Assessor's Office for more information.
When is Mono County Property Tax due ?
Mono County Property Tax is typically due on December 10th every year, with no grace period. The following are the payment methods available for Mono County Property Tax:
| Payment Method | Details |
|---|---|
| Online Payment | Payment can be made online using Visa, Mastercard, Discover, or eCheck. |
| Mail-In Payment | Payment can be mailed to the Mono County Tax Collector's office. |
| In-Person Payment | Payment can be made in person at the Mono County Tax Collector's office. |
It's important to note that failure to pay property taxes on time can result in penalties and interest charges. Mono County Property owners are encouraged to make their payments on time to avoid these charges.
If you have more questions - contact your local tax collector.
How is Mono County Property Tax penalty calculated ?
Mono County Property Tax Penalty Calculation:
The Mono County Property Tax penalty is calculated based on the delinquent tax amount and the number of days past the deadline for payment. The penalty for late payment is 10% of the unpaid tax amount plus an additional 1.5% per month until the tax is paid in full.
For example, if a property owner in Mono County owes $5,000 in property taxes and fails to pay by the deadline of April 10th, they will be charged a penalty of $500 - which is 10% of the total amount owed. If they still haven't paid by May 10th, the penalty will increase to $575 - which is 10% of $5,000 plus an additional 1.5% for one month (or $75). If they still haven't paid by June 10th, the penalty will be $650 - which is the 10% penalty plus an additional 1.5% penalty for two months. This cycle continues until the taxes are paid in full.
To summarize, Mono County Property Tax penalty is calculated as follows:
| Days Past Due | Penalty Percentage |
|---|---|
| 1-30 | 10% |
| 31-60 | 11.5% |
| 61-90 | 13% |
| 91-120 | 14.5% |
| 121+ | 16% |
It is important for property owners to pay their property taxes on time to avoid these penalties and keep their property in good standing with the county.
We recommend contacting the Mono County Tax Office or a local tax professional for the most up-to-date and accurate information.