93932 Property Tax Rate

Property owners in ZIP code 93932 (Lockwood, California) pay a median of $1,967/year in property taxes on homes valued at $550,000. This translates to an effective tax rate of 0.36%, which is 49% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 93932 is approximately $164, which factors into escrow payments on mortgages. This ZIP code is located within Monterey County. This is $2,933 less than the California average of $4,900/year.

Compared to similar ZIP codes in California, 93932 has lower property taxes. ZIP codes with similar effective rates include 95041 (0.36%) and 95466 (0.35%).

In Lockwood, property taxes represent approximately 2.1% of the median household income of $95,774, providing context for the relative tax burden on homeowners in this area.

Proposition 13 reassesses your Monterey County home to the purchase price at sale and limits subsequent increases to 2% annually, anchoring your tax burden to your purchase-price valuation. Monterey County offers a $7,000 Homeowners' Exemption — file with the Monterey County Assessor within 30 days of purchase. Submit your exemption claim to the Monterey County Assessor and request written proof of your base year value.