Wallowa, Oregon Property Taxes
The median property tax rate in Wallowa, OR is 0.49%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Wallowa at $275,785, the typical annual property tax bill amounts to $1,403, which is below the national median of $2,690. Property taxes in Wallowa are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wallowa'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 Wallowa or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wallowa, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,351
Ownwell’s Wallowa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wallowa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wallowa 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 Wallowa, Oregon
Property taxes in Wallowa, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wallowa is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Wallowa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wallowa 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 Wallowa's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97885 has the highest median property tax rate of 0.49%, while the same zip code 97885 also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Wallowa provides valuable insights into the varying tax landscape across Wallowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wallowa Tax Rate
0.49%
Average Wallowa County Tax Rate
0.48%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wallowa, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97885 | 0.26% | 0.35% | 0.49% | 0.62% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Wallowa, Oregon
In Wallowa, 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 local 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 Wallowa, 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 Wallowa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97885 has both the highest and lowest median tax bills at $1,403, reflecting the localized nature of property tax assessments in the area.
Average Wallowa Assessed Value
$275,785
Average Wallowa County Assessed Value
$375,080
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wallowa, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97885 | $92,892 | $180,812 | $275,785 | $462,675 | $740,259 |
Source: Ownwell
Property Tax Bills Across Wallowa, Oregon
In Wallowa, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Wallowa, the median home price is $275,785. Property tax bills in this region can vary significantly, with the 25th percentile at $804 and the 75th percentile reaching $2,036. At the 90th percentile, homeowners might see tax bills as high as $2,991. Several factors influence these tax bills, including property location, improvements made to the property, and local government budgets. For instance, the highest median tax bill in Wallowa County is $1,403, found in zip code 97885. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. For homeowners, understanding how property taxes are calculated helps in budgeting for these annual expenses and making informed decisions about property investments.
Average Wallowa Tax Bill
$1,403
Average Wallowa County Tax Bill
$1,773
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Wallowa, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97885 | $406 | $804 | $1,403 | $2,036 | $2,991 |
Source: Ownwell