Gaston, Oregon Property Taxes
The median property tax rate in Gaston, OR is 0.46%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Gaston at $262,366, the typical annual property tax bill reaches $1,026, falling below the national median of $2,690. Property taxes in Gaston 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 Gaston'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 Gaston 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
Gaston, 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 Gaston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gaston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gaston 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 Gaston, Oregon
Property taxes in Gaston, Oregon, are critical for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gaston is 0.46%, significantly lower than the U.S. national median of 0.99%. Local government entities within Gaston set these rates annually, and they can vary across different neighborhoods. Each year, Gaston 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 Gaston's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97119 has both the highest and lowest median property tax rate of 0.46%. Understanding how these cities compare with Gaston provides valuable insights into the varying tax landscape across Yamhill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaston Tax Rate
0.46%
Average Yamhill County Tax Rate
0.74%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97119 | 0.25% | 0.36% | 0.46% | 0.58% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Gaston, Oregon
In Gaston, 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 Yamhill 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 Gaston, 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 Gaston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Gaston is 97119, with a median tax bill of $1026.
Average Gaston Assessed Value
$262,366
Average Yamhill County Assessed Value
$432,001
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97119 | $58,614 | $105,256 | $262,366 | $577,302 | $806,998 |
Source: Ownwell
Property Tax Bills Across Gaston, Oregon
In Gaston, Yamhill County, OR, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to compute the annual property tax bill. Factors influencing the assessed value include the property's market value, improvements, and any exemptions that may apply. For homeowners in Gaston, the impact of property taxes can vary significantly. The median home price in the area is $262,366, and tax bills range widely. At the 25th percentile, homeowners can expect to pay around $408 annually, while those at the 75th percentile face bills of approximately $2,771. For the top 10% of property values, the tax bill can soar to $4,224. Comparatively, Yamhill County's property tax rates are competitive, with the highest and lowest median tax bills both reported at $1,026 in the 97119 zip code, contrasting the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gaston Tax Bill
$1,026
Average Yamhill County Tax Bill
$3,196
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97119 | $162 | $408 | $1,026 | $2,771 | $4,224 |
Source: Ownwell