Newberg, Oregon Property Taxes
The median property tax rate in Newberg, OR is 0.71%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Newberg at $770,200, the typical annual property tax bill reaches $5,554, significantly surpassing the national median of $2,690. Property taxes in Newberg 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 Newberg'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 Newberg 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
Newberg, 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 Newberg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newberg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newberg 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 Newberg, Oregon
Property taxes in Newberg, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newberg is 0.71%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Newberg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newberg 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. Understanding Newberg's effective property tax rate in comparison to other areas helps homeowners gain a clearer picture of their property tax obligations relative to neighboring regions. For comparison, the highest and lowest median property tax rates in the area are both 0.71% in the 97132 zip code. This consistency provides valuable insights into the uniform tax landscape across Yamhill County, helping homeowners understand their property tax obligations in Newberg.
Average Newberg Tax Rate
0.71%
Average Washington County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | 0.49% | 0.64% | 0.71% | 0.78% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Newberg, Oregon
In Newberg, 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 county 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 Newberg, 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 Newberg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Newberg are both $5,554, found in zip code 97132.
Average Newberg Assessed Value
$770,200
Average Washington County Assessed Value
$529,930
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | $319,844 | $516,805 | $770,200 | $894,570 | $1,120,314 |
Source: Ownwell
Property Tax Bills Across Newberg, Oregon
In Newberg, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. Homeowners in this region experience a range of property tax bills, reflecting the varying home values. The median home price in Newberg is $770,200, significantly influencing the tax calculations. The tax bill considers multiple factors, including the assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile tax bill is $4,056, while the 75th percentile reaches $6,751. At the higher end, the 90th percentile tax bill can be as much as $8,615. These figures highlight the impact of home values and local tax rates on what homeowners can expect to pay. Compared to the national median property tax rate of 0.99%, Newberg's property tax bills reflect the area's higher property values. Homeowners should be aware of these factors as they significantly affect annual financial planning and overall affordability of living in this region.
Average Newberg Tax Bill
$5,554
Average Washington County Tax Bill
$4,896
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | $1,987 | $4,056 | $5,554 | $6,751 | $8,615 |
Source: Ownwell