Redmond, Oregon Property Taxes
The median property tax rate in Redmond, OR is 0.72%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $506,235 in Redmond, the typical annual property tax bill reaches $3,629, significantly higher than the national median of $2,690. Property taxes in Redmond 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 Redmond'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 Redmond 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
Redmond, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$3,645
Ownwell’s Redmond Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Redmond, Deschutes County. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Redmond to provide an estimate of your property tax bill. This user-friendly tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed information, including neighborhood-level trends, additional localized data is available. Your property’s assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Redmond, Oregon
Property taxes in Redmond, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redmond is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Redmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redmond 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 Redmond's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97756 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Redmond provides valuable insights into the varying tax landscape across Deschutes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redmond Tax Rate
0.72%
Average Deschutes County Tax Rate
0.59%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | 0.54% | 0.64% | 0.72% | 0.79% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Redmond, Oregon
In Redmond, 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 Deschutes 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 Redmond, 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 Redmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97756 has the highest and lowest median tax bill of $3,629.
Average Redmond Assessed Value
$506,235
Average Deschutes County Assessed Value
$646,345
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | $346,401 | $412,980 | $506,235 | $636,278 | $856,946 |
Source: Ownwell
Property Tax Bills Across Redmond, Oregon
In Redmond, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the Deschutes County Assessor's office. The assessed value is typically lower than the market value and is adjusted annually to reflect changes in the real estate market. Homeowners in Redmond can expect a median home price of $506,235, with property tax bills varying significantly depending on the assessed value and specific tax rates applied. Tax bills in Redmond range from the 25th percentile at $2,910 to the 75th percentile at $4,614, with the 90th percentile reaching $6,171. These figures show a broad spectrum of tax responsibilities, reflecting differences in property values and applicable exemptions. Homeowners in the 97756 zip code face a median tax bill of $3,629, which is consistent across the area. Compared to the national median property tax rate of 0.99%, Redmond's property taxes can be relatively high, impacting homeowners by increasing their annual financial obligations and influencing decisions on property investments and homeownership.
Average Redmond Tax Bill
$3,629
Average Deschutes County Tax Bill
$3,746
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | $2,291 | $2,910 | $3,629 | $4,614 | $6,171 |
Source: Ownwell