Seal Rock, Oregon Property Taxes
The median property tax rate in Seal Rock, OR is 0.78%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Seal Rock at $376,345, the typical annual property tax bill amounts to $2,885, slightly above the national median of $2,690. Property taxes in Seal Rock are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Seal Rock'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 Seal Rock or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seal Rock, 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 SEAL ROCK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SEAL ROCK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SEAL ROCK 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Seal Rock, Oregon
Property taxes in Seal Rock, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seal Rock is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Seal Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seal Rock 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 Seal Rock's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97376 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Seal Rock provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seal Rock Tax Rate
0.78%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seal Rock, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97376 | 0.61% | 0.70% | 0.78% | 0.87% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Seal Rock, Oregon
In Seal Rock, 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 Lincoln 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 Seal Rock, 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. 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 Seal Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,885, found in zip code 97376.
Average Seal Rock Assessed Value
$376,345
Average Lincoln County Assessed Value
$341,090
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seal Rock, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97376 | $86,748 | $198,218 | $376,345 | $580,172 | $876,332 |
Source: Ownwell
Property Tax Bills Across Seal Rock, Oregon
In Seal Rock, Lincoln County, OR, property tax bills are calculated based on the assessed value of a home, not its market value. This assessed value is determined by the county assessor and is typically a percentage of the home's market value. For instance, the median home price in Seal Rock is $376,345. Property tax rates in this area vary, but the median tax bill stands at $2,885. This is relatively high compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Seal Rock might see tax bills ranging from $1,562 at the 25th percentile to as high as $6,641 at the 90th percentile. These taxes fund essential public services such as schools, emergency services, and infrastructure. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Seal Rock Tax Bill
$2,885
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Seal Rock, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97376 | $698 | $1,562 | $2,885 | $4,450 | $6,641 |
Source: Ownwell