93453 Property Tax Rate

Property owners in ZIP code 93453 (Santa Margarita, California) pay a median of $3,918/year in property taxes on homes valued at $720,100. This translates to an effective tax rate of 0.54%, which is 22% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 93453 is approximately $327, which factors into escrow payments on mortgages. This ZIP code is located within San Luis Obispo County. This is $982 less than the California average of $4,900/year.

Compared to similar ZIP codes in California, 93453 has higher property taxes. ZIP codes with similar effective rates include 91202 (0.54%) and 90744 (0.54%).

In Santa Margarita, property taxes represent approximately 5.6% of the median household income of $70,288, providing context for the relative tax burden on homeowners in this area.

Proposition 13 reassesses your San Luis Obispo County property to purchase price at closing and caps annual increases at 2%, fixing your tax liability to the sale price. San Luis Obispo County provides a $7,000 Homeowners' Exemption — file with the San Luis Obispo County Assessor within 30 days of closing. Contact the San Luis Obispo County Assessor's office to claim your exemption and verify your base year value is correctly recorded.