Granite, Oregon Property Taxes
The median property tax rate in Granite, OR is 0.57%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Granite, the typical annual property tax bill is $203, well below the national median of $2,690. Property taxes in Granite 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 Granite'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 Granite 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
Granite, 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 Granite Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Granite with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granite to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, and it includes any applicable exemptions.
Property Tax Rates Across Granite, Oregon
Property taxes in Granite, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granite is 0.57%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Granite set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granite 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 Granite's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97877 zip code has the highest median property tax rate of 0.57%, while the 97877 zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Granite provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granite Tax Rate
0.57%
Average Grant County Tax Rate
0.75%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granite, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97877 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Granite, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Granite, 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 Grant 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 Granite, 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 Granite helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Granite are both $203, found in zip code 97877.
Average Granite Assessed Value
$35,560
Average Grant County Assessed Value
$184,015
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granite, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97877 | $35,560 | $35,560 | $35,560 | $35,560 | $35,560 |
Source: Ownwell
Property Tax Bills Across Granite, Oregon
In Granite, located in Grant County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. For Granite, the median home price is $35,560. The property tax rate is applied to this assessed value to calculate the annual tax bill. Factors considered in determining the tax bill include the property's location, size, and any improvements made. Additionally, local levies and bonds for schools, infrastructure, and other community services can influence the final tax amount. In Granite, the median property tax bill is $203, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making it more affordable to own property in this region. The consistency in tax bills, as seen with the 25th, 75th, and 90th percentile all being $203, ensures predictability and financial stability for residents.
Average Granite Tax Bill
$203
Average Grant County Tax Bill
$1,399
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97877 | $203 | $203 | $203 | $203 | $203 |
Source: Ownwell