Hubbard, Oregon Property Taxes
The median property tax rate in Hubbard, OR is 0.78%, notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value in Hubbard of $349,885, the typical annual property tax bill is around $2,786, slightly below the national median of $2,690. Property taxes in Hubbard are calculated based on the tax assessed value, which generally falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hubbard'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 Hubbard 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
Hubbard, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,729
Ownwell’s Hubbard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hubbard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbard 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 Hubbard, Oregon
Property taxes in Hubbard, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbard is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Hubbard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbard 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 Hubbard's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97032 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Hubbard 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 Hubbard Tax Rate
0.78%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | 0.46% | 0.64% | 0.78% | 0.85% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Hubbard, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hubbard, Oregon. 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 Assessment and Taxation Department 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 Hubbard, 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 Hubbard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hubbard, the highest and lowest median tax bills are both $2,786, found in the 97032 zip code.
Average Hubbard Assessed Value
$349,885
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 Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | $36,342 | $165,562 | $349,885 | $483,748 | $562,069 |
Source: Ownwell
Property Tax Bills Across Hubbard, Oregon
In Hubbard, located in Marion County, OR, property tax bills are calculated based on the assessed value of the property, which may differ from its market value. The assessed value is determined by the county assessor and is used to calculate the tax bill. Several factors influence this valuation, including the property's size, location, and any improvements made. For homeowners in Hubbard, the median home price stands at $349,885. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,651 and the 75th percentile reaching $3,812. The 90th percentile tax bill is $4,225, indicating that some homeowners may face higher tax obligations. Comparatively, the national median property tax rate is 0.99%, and Marion County's figures provide a useful benchmark for understanding local tax burdens. These taxes fund essential services such as schools, infrastructure, and emergency services, directly impacting the community. Understanding how property taxes are calculated helps homeowners manage their financial planning and anticipate future expenses.
Average Hubbard Tax Bill
$2,786
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | $498 | $1,651 | $2,786 | $3,812 | $4,225 |
Source: Ownwell