Average Tax Assessment in Monterey County
Real Estate Values and Property Tax Valuation in Monterey County, California
Monterey County has 94,791 properties with a cumulative value of $43.4B, making up 1.17% of all real estate value in California. Property taxes in Monterey County totaled $586.4M, with an average homeowner paying $6,354 in property taxes, which is higher than the state average of $5,946. The average property tax rate in Monterey County is 1.35%, lower than the state average of 1.58%. Properties are typically valued for tax purposes based on their market value.
The property tax timeline in California begins on January 1st, when the property valuation date is set. Property value notices are then issued between June and August. Property tax appeals must be submitted by September 15th or November 30th, depending on the county. Finally, property tax bills are issued on October 1st.
Updated November 01, 2023
| Important Links | |
|---|---|
| Monterey Recorder | (831) 755-5041 |
| Monterey Assessor | (831) 755-5035 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | June - August |
| Property Tax Appeal Deadline: | September 15 or November 30 (varies by county) |
| Property Tax Bills Issued: | October 1st |
| Real Property Tax Bill Due (1st of #): | December 10th, 1st half installment |
| Real Property Tax Bill Due (2nd of #): | April 10th, 2nd half |
| Available Exemptions | |
|---|---|
| Senior | Not Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Not Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Monterey County
Residential Property Taxes by Cities in Monterey County
Monterey County has an average property tax rate of 1.35%, which is slightly lower than the national average of 1.38%. This rate applies to all cities in the county, with the exception of Gonzales, which has the highest effective property tax rate of 1.65%. On the other hand, Carmel Valley has the lowest effective property tax rate of 1.26%. In 2023, the total property taxes collected in Monterey County are estimated to be $586.4 million.
Property taxes in Monterey County vary across cities, with some cities having higher rates than others. For example, Gonzales has the highest effective property tax rate of 1.65%, while Carmel Valley has the lowest rate of 1.26%. This means that homeowners in Gonzales will pay more in property taxes than those in Carmel Valley. However, the average property tax rate in Monterey County is still lower than the national average, making it an attractive place to live for those looking for lower taxes.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Monterey County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aromas | $0 | $157,964 | $381,114 | $592,970 | $823,072 |
| Bradley | $0 | $16,400 | $168,251 | $353,820 | $522,690 |
| Carmel | $0 | $171,166 | $684,221 | $1,408,596 | $2,600,000 |
| Carmel Valley | $0 | $173,941 | $553,060 | $960,083 | $1,491,745 |
| Castroville | $0 | $35,925 | $191,502 | $320,782 | $503,203 |
| Gonzales | $0 | $68,316 | $204,754 | $312,560 | $432,231 |
| Greenfield | $0 | $94,718 | $177,414 | $294,329 | $390,000 |
| King City | $0 | $68,066 | $185,654 | $309,169 | $391,282 |
| Marina | $0 | $89,289 | $329,593 | $606,486 | $751,888 |
| Monterey | $0 | $111,168 | $368,665 | $693,198 | $1,004,699 |
| Moss Landing | $0 | $41,278 | $142,090 | $550,764 | $1,040,224 |
| Pacific Grove | $0 | $81,553 | $396,941 | $807,359 | $1,179,594 |
| Pebble Beach | $0 | $282,396 | $992,136 | $2,002,384 | $4,318,906 |
| Royal Oaks | $0 | $53,738 | $259,820 | $486,516 | $685,889 |
| Salinas | $0 | $94,272 | $262,345 | $448,579 | $624,000 |
| Seaside | $0 | $53,422 | $219,559 | $460,740 | $646,652 |
| Soledad | $0 | $77,615 | $230,568 | $384,010 | $470,226 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Monterey County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aromas | $1,911 | $3,273 | $5,067 | $7,217 | $9,584 |
| Bradley | $678 | $1,661 | $2,834 | $4,563 | $6,865 |
| Carmel | $2,668 | $5,407 | $9,982 | $17,371 | $30,047 |
| Carmel Valley | $1,993 | $3,985 | $7,302 | $11,374 | $16,460 |
| Castroville | $958 | $1,959 | $3,248 | $4,479 | $6,132 |
| Gonzales | $1,239 | $2,167 | $3,207 | $4,674 | $6,182 |
| Greenfield | $1,281 | $1,855 | $2,685 | $3,992 | $5,229 |
| King City | $1,059 | $1,693 | $2,477 | $3,593 | $4,459 |
| Marina | $1,108 | $2,656 | $4,952 | $7,853 | $10,254 |
| Monterey | $1,306 | $2,679 | $5,055 | $8,240 | $11,997 |
| Moss Landing | $1,478 | $2,691 | $5,260 | $8,942 | $13,260 |
| Pacific Grove | $1,003 | $2,861 | $6,175 | $9,475 | $13,352 |
| Pebble Beach | $3,472 | $7,526 | $13,953 | $26,473 | $50,606 |
| Royal Oaks | $1,045 | $2,421 | $4,079 | $6,339 | $8,242 |
| Salinas | $1,280 | $2,340 | $3,801 | $5,619 | $7,505 |
| Seaside | $719 | $1,766 | $3,410 | $5,484 | $7,293 |
| Soledad | $1,051 | $2,225 | $3,572 | $5,316 | $6,541 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aromas | - | 2.07% | 1.33% | 1.22% | 1.16% |
| Bradley | - | 10.13% | 1.68% | 1.29% | 1.31% |
| Carmel | - | 3.16% | 1.46% | 1.23% | 1.16% |
| Carmel Valley | - | 2.29% | 1.32% | 1.18% | 1.10% |
| Castroville | - | 5.45% | 1.70% | 1.40% | 1.22% |
| Gonzales | - | 3.17% | 1.57% | 1.50% | 1.43% |
| Greenfield | - | 1.96% | 1.51% | 1.36% | 1.34% |
| King City | - | 2.49% | 1.33% | 1.16% | 1.14% |
| Marina | - | 2.97% | 1.50% | 1.29% | 1.36% |
| Monterey | - | 2.41% | 1.37% | 1.19% | 1.19% |
| Moss Landing | - | 6.52% | 3.70% | 1.62% | 1.27% |
| Pacific Grove | - | 3.51% | 1.56% | 1.17% | 1.13% |
| Pebble Beach | - | 2.67% | 1.41% | 1.32% | 1.17% |
| Royal Oaks | - | 4.51% | 1.57% | 1.30% | 1.20% |
| Salinas | - | 2.48% | 1.45% | 1.25% | 1.20% |
| Seaside | - | 3.31% | 1.55% | 1.19% | 1.13% |
| Soledad | - | 2.87% | 1.55% | 1.38% | 1.39% |
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Real Estate Values in Monterey County
The median home price in Monterey County has decreased by 1.88% from October 2022 to October 2023, from $800.0K to $785.0K. This decrease in home prices is accompanied by a decrease in home inventory, from 601 in October 2022 to 480 in October 2023. This suggests that the housing market in Monterey County is becoming more competitive, as fewer homes are available for purchase.
Average Home Value in Monterey County, California
Last updated: November 2023
Percent Change in Total Home Sales in Monterey County
Last updated: November 2023
Percent Change in New Home Listings in Monterey County
Last updated: November 2023
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Mortgage Rates in Monterey County
Monterey County is home to a large number of outstanding home mortgage loans, totaling $16.2 billion. This represents a significant portion of the total home value in the county, and is indicative of the strong housing market in the area. The number of outstanding loans in Monterey County is 49.8K, which is a testament to the popularity of the area for homeowners.
The median mortgage rate in Monterey County varies significantly across cities, ranging from 4.1% in Marina to 5.77% in Castroville. This variation in rates is reflective of the different economic conditions in each city, and provides potential homeowners with a range of options when it comes to financing their home. Overall, Monterey County is a great place to purchase a home, with a strong housing market and a wide range of mortgage rates.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Monterey County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aromas | $47,605 | $122,225 | $269,913 | $443,567 | $589,837 |
| Bradley | $30,452 | $85,708 | $171,041 | $353,320 | $505,116 |
| Carmel | $93,198 | $224,175 | $442,736 | $787,625 | $1,378,707 |
| Carmel Valley | $83,105 | $214,929 | $420,283 | $653,185 | $1,065,082 |
| Castroville | $39,483 | $67,090 | $124,502 | $255,981 | $414,094 |
| Gonzales | $36,109 | $88,692 | $139,822 | $209,531 | $351,444 |
| Greenfield | $36,658 | $81,935 | $147,669 | $257,040 | $367,399 |
| King City | $42,330 | $88,262 | $169,455 | $281,883 | $366,225 |
| Marina | $81,751 | $200,380 | $341,921 | $507,861 | $664,440 |
| Monterey | $58,183 | $149,500 | $304,264 | $497,557 | $715,732 |
| Moss Landing | $50,744 | $125,543 | $251,267 | $540,507 | $746,271 |
| Pacific Grove | $69,384 | $170,379 | $320,619 | $532,472 | $764,897 |
| Pebble Beach | $108,703 | $263,192 | $512,691 | $951,981 | $1,834,218 |
| Royal Oaks | $53,332 | $118,222 | $224,246 | $377,164 | $532,679 |
| Salinas | $51,535 | $115,607 | $202,979 | $355,262 | $508,856 |
| Seaside | $44,725 | $132,252 | $230,636 | $372,306 | $513,678 |
| Soledad | $54,197 | $107,151 | $164,830 | $306,307 | $416,062 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Monterey County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aromas | 3.20% | 3.87% | 4.83% | 6.90% | 7.90% |
| Bradley | 2.90% | 3.50% | 4.50% | 6.71% | 7.13% |
| Carmel | 2.90% | 3.51% | 4.32% | 6.25% | 7.53% |
| Carmel Valley | 2.95% | 3.54% | 4.30% | 6.20% | 7.56% |
| Castroville | 3.48% | 4.08% | 5.77% | 7.54% | 8.18% |
| Gonzales | 3.54% | 4.12% | 5.21% | 6.88% | 7.82% |
| Greenfield | 3.23% | 3.92% | 4.88% | 6.47% | 7.70% |
| King City | 3.06% | 3.75% | 4.60% | 6.16% | 7.50% |
| Marina | 2.90% | 3.57% | 4.10% | 5.09% | 7.07% |
| Monterey | 3.00% | 3.63% | 4.32% | 6.20% | 7.43% |
| Moss Landing | 2.93% | 3.72% | 4.75% | 6.53% | 7.42% |
| Pacific Grove | 2.99% | 3.64% | 4.50% | 6.37% | 7.62% |
| Pebble Beach | 2.90% | 3.47% | 4.25% | 6.04% | 7.25% |
| Royal Oaks | 3.43% | 3.87% | 4.90% | 6.79% | 7.84% |
| Salinas | 3.25% | 3.85% | 4.75% | 6.37% | 7.61% |
| Seaside | 3.10% | 3.81% | 4.70% | 6.37% | 7.63% |
| Soledad | 3.36% | 3.86% | 4.67% | 5.92% | 7.13% |
Housing Expenses in Monterey County, California
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