Timber, Oregon Property Taxes
The median property tax rate in Timber, OR is 0.52%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Timber at $316,880, the typical annual property tax bill reaches $1,825, falling below the national median of $2,690. Property taxes in Timber 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 Timber'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 Timber 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
Timber, 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 Timber Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Timber with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Timber 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 Timber, Oregon
Property taxes in Timber, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Timber is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Timber set these rates annually, and they can vary across different neighborhoods. Each year, Timber 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 Timber's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97144 has the same median property tax rate of 0.52%, reflecting consistent tax assessments across Timber. Understanding how these rates compare with Timber provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Timber Tax Rate
0.52%
Average Washington County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Timber, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97144 | 0.35% | 0.41% | 0.52% | 0.67% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Timber, Oregon
In Timber, 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 Washington County Appraisal District 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 Timber, 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 Timber helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in Timber's zip code 97144 is $1825, which is consistent across different percentiles, contrasting with the national median property tax rate of 0.99%.
Average Timber Assessed Value
$316,880
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 Timber, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97144 | $14,573 | $205,128 | $316,880 | $438,638 | $549,432 |
Source: Ownwell
Property Tax Bills Across Timber, Oregon
In Timber, located in Washington County, OR, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors like property size, location, and improvements. Timber's median home price is $316,880, and homeowners can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $1,109, while the 75th percentile tax bill is $2,584, and the 90th percentile tax bill reaches $3,728. These figures indicate a wide range of property tax obligations within the city, reflecting differences in property values and assessments. The highest and lowest median tax bills in Timber are both $1,825, which is below the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their annual budgeting and long-term financial planning.
Average Timber Tax Bill
$1,825
Average Washington County Tax Bill
$4,896
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Timber, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97144 | $585 | $1,109 | $1,825 | $2,584 | $3,728 |
Source: Ownwell