Detroit, Oregon Property Taxes
The median property tax rate in Detroit, Oregon is 0.45%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Detroit, the typical annual property tax bill amounts to $1,229, which is well below the national median of $2,690. Property taxes in Detroit are calculated based on the assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Detroit's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Detroit or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Detroit, 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 Detroit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Detroit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Detroit 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 Detroit, Oregon
Property taxes in Detroit, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Detroit is 0.45%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Detroit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Detroit 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 Detroit's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97342 has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Detroit provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Detroit Tax Rate
0.45%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Detroit, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97342 | 0.13% | 0.27% | 0.45% | 0.58% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Detroit, Oregon
In Detroit, 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 Marion County Appraisal District 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 Detroit, 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 Detroit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 97342, with a value of $1,229.
Average Detroit Assessed Value
$319,560
Average Marion County Assessed Value
$390,390
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Detroit, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97342 | $110,500 | $185,330 | $319,560 | $509,770 | $739,336 |
Source: Ownwell
Property Tax Bills Across Detroit, Oregon
In Detroit, Marion County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is a percentage of the market value of the property. Homeowners in Detroit can expect their tax bills to vary significantly, with the 25th percentile at $558 and the 75th percentile reaching $2,220. For those in the 90th percentile, tax bills can climb as high as $3,924. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. The median home price in Detroit is $319,560, which provides a benchmark for understanding property values in the area. Compared to the national median property tax rate of 0.99%, Detroit’s tax rates can result in considerable variation in tax bills, impacting homeowners' financial planning and budgeting. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Detroit Tax Bill
$1,229
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Detroit, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97342 | $366 | $558 | $1,229 | $2,220 | $3,924 |
Source: Ownwell