Brookings, Oregon Property Taxes
The median property tax rate in Brookings, OR is 0.42%, significantly lower than both the national median of 0.99% and Oregon's state median of 0.86%. With the median home value in Brookings, the typical annual property tax bill reaches $1,640, well below the national median of $2,690. Property taxes in Brookings are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brookings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brookings or another part of Curry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brookings, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,598
Ownwell’s Brookings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookings 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 Brookings, Oregon
Property taxes in Brookings, Oregon, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookings is 0.42%, significantly lower than the U.S. national median of 0.99%. Local government entities within Brookings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookings 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 Brookings' effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97415 has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Brookings provides valuable insights into the varying tax landscape across Curry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookings Tax Rate
0.42%
Average Curry County Tax Rate
0.48%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookings, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97415 | 0.29% | 0.35% | 0.42% | 0.54% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Brookings, Oregon
In Brookings, 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 Curry 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 Brookings, 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 Brookings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Brookings are both $1,640 in the 97415 zip code, which is higher than the national median property tax rate of 0.99%.
Average Brookings Assessed Value
$380,495
Average Curry County Assessed Value
$352,065
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookings, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97415 | $62,143 | $252,708 | $380,495 | $538,378 | $771,767 |
Source: Ownwell
Property Tax Bills Across Brookings, Oregon
In Brookings, located in Curry County, OR, property tax bills are calculated based on the assessed value of a home rather than its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $380,495, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $871, while the 75th percentile reaches $2,498, and the 90th percentile can go up to $3,596. Several factors influence these amounts, including property location, improvements, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Brookings homeowners may experience different financial impacts based on their specific circumstances. Understanding these factors is crucial for homeowners as property taxes represent a significant portion of annual housing costs, affecting overall affordability and long-term financial planning.
Average Brookings Tax Bill
$1,640
Average Curry County Tax Bill
$1,626
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookings, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97415 | $217 | $871 | $1,640 | $2,498 | $3,596 |
Source: Ownwell