Shedd, Oregon Property Taxes
The median property tax rate in Shedd, OR is 0.47%, significantly lower than both the national median of 0.99% and Oregon's state median of 0.86%. With a median home value of $500,410 in Shedd, the typical annual property tax bill is $2,245, which is still below the national median of $2,690. Property taxes in Shedd are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shedd'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 Shedd or another part of Linn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shedd, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,352
Ownwell’s Shedd Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Shedd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shedd to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available. Your property’s assessed value is determined by Linn County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Shedd, Oregon
Property taxes in Shedd, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shedd is 0.47%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Shedd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shedd 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 Shedd's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97377 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Shedd provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shedd Tax Rate
0.47%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shedd, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97377 | 0.24% | 0.36% | 0.47% | 0.58% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Shedd, Oregon
In Shedd, 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 Linn 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 Shedd, 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 Shedd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Shedd is $2,245, found in zip code 97377.
Average Shedd Assessed Value
$500,410
Average Linn County Assessed Value
$372,065
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shedd, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97377 | $128,686 | $270,685 | $500,410 | $704,760 | $1,092,536 |
Source: Ownwell
Property Tax Bills Across Shedd, Oregon
In Shedd, located in Linn County, OR, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local tax assessor and is often lower than the market value. Homeowners in Shedd can expect their property tax bills to vary widely, with the 25th percentile at $1,338 and the 75th percentile reaching $3,469. The 90th percentile tax bill goes up to $4,692, indicating a significant range in tax liabilities. The median home price in Shedd is $500,410, which serves as a benchmark for understanding how tax rates apply. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Shedd reflect the unique economic and regulatory environment of Linn County. For homeowners, this means that property taxes can significantly impact their annual budgets, making it crucial to understand how these taxes are calculated and what factors contribute to their final bill.
Average Shedd Tax Bill
$2,245
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Shedd, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97377 | $676 | $1,338 | $2,245 | $3,469 | $4,692 |
Source: Ownwell