Mill City, Oregon Property Taxes
The median property tax rate in Mill City, OR is 0.62%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Mill City at $303,615, the typical annual property tax bill reaches $1,659, well below the national median of $2,690. Property taxes in Mill City 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 Mill City'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 Mill City 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
Mill City, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,882
Ownwell’s Mill City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mill City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mill City 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 Marion County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Mill City, Oregon
Property taxes in Mill City, Oregon play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill City is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Mill City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill City 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 Mill City's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97360 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Mill City 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 Mill City Tax Rate
0.62%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mill City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97360 | 0.28% | 0.43% | 0.62% | 0.76% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Mill City, Oregon
In Mill City, 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 Marion 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 Mill City, 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 Mill City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 97360, with a median tax bill of $1,659, which is below the national median property tax rate of 0.99%.
Average Mill City Assessed Value
$303,615
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 Mill City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97360 | $143,309 | $208,948 | $303,615 | $484,878 | $638,374 |
Source: Ownwell
Property Tax Bills Across Mill City, Oregon
Property tax bills in Mill City, located in Marion County, Oregon, are determined based on the assessed value of a property, which is typically lower than its market value. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Mill City, the median home price stands at $303,615, with property tax bills ranging significantly. At the 25th percentile, homeowners can expect to pay around $1,180 annually, while those at the 75th percentile face tax bills of approximately $3,028. The top 10% of properties see tax bills as high as $4,961. These tax bills are influenced by various factors, including property improvements, neighborhood developments, and changes in local tax rates. Compared to the national median property tax rate of 0.99%, Mill City's property tax rate offers a unique perspective for homeowners. Understanding these factors can help homeowners anticipate their annual financial obligations and plan accordingly.
Average Mill City Tax Bill
$1,659
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Mill City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97360 | $532 | $1,180 | $1,659 | $3,028 | $4,961 |
Source: Ownwell