Diamond Lake, Oregon Property Taxes
The median property tax rate in Diamond Lake, OR is 0.80%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Diamond Lake, the typical annual property tax bill reaches $61, significantly below the national median of $2,690. Property taxes in Diamond Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Diamond Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Diamond Lake or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Diamond Lake, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Diamond Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Diamond Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Diamond Lake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Douglas County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Diamond Lake, Oregon
Property taxes in Diamond Lake, Oregon, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Diamond Lake is 0.80%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Diamond Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diamond Lake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Diamond Lake's effective property tax rate to other areas in Oregon and the national median. For comparison, the 97731 zip code has the highest median property tax rate of 0.80%, while the same 97731 zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Diamond Lake provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Diamond Lake Tax Rate
0.80%
Average Douglas County Tax Rate
0.66%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diamond Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97731 | 0.60% | 0.77% | 0.80% | 0.89% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Diamond Lake, Oregon
In Diamond Lake, Oregon, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Douglas County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Diamond Lake, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the 25th percentile tax bill is $46, while the 75th percentile reaches $92, and the 90th percentile is $121. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Diamond Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Diamond Lake Assessed Value
$8,156
Average Douglas County Assessed Value
$222,242
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Diamond Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97731 | $3,852 | $5,368 | $8,156 | $12,952 | $15,794 |
Source: Ownwell
Property Tax Bills Across Diamond Lake, Oregon
In Diamond Lake, located in Douglas County, OR, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and is typically lower than the market value. This value is then multiplied by the local property tax rate to determine your annual tax bill. Factors such as property improvements, neighborhood changes, and overall market conditions can influence the assessed value. For homeowners in Diamond Lake, the median home price is $8,156. Property tax bills vary significantly, with the 25th percentile paying around $46 annually, while those in the 75th percentile pay approximately $92. The top 10% of taxpayers face bills up to $121. Compared to the national median property tax rate of 0.99%, Diamond Lake's rates are relatively modest, making it an attractive option for homeowners seeking lower property tax burdens. Understanding these factors can help residents better anticipate their annual property tax expenses and plan their finances accordingly.
Average Diamond Lake Tax Bill
$61
Average Douglas County Tax Bill
$1,430
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Diamond Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97731 | $36 | $46 | $61 | $92 | $121 |
Source: Ownwell