Hannibal, Oregon Property Taxes
The median property tax rate in Hannibal, OR is 0.67%, notably lower than both the national median of 0.99% and Oregon's state median of 0.86%. With the median home value in Hannibal at $218,820, the typical annual property tax bill is $1,428, which is also below the national median of $2,690. Property taxes in Hannibal are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Hannibal’s property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Hannibal or another part of the city, familiarizing yourself with the local property tax system can provide substantial financial benefits.
Last Updated June 14, 2024
Hannibal, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,466
$1,360
Ownwell’s Hannibal Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in Hannibal with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hannibal to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hannibal, Oregon
Property taxes in Hannibal, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hannibal is 0.67%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Hannibal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hannibal 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 Hannibal's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code with the highest median property tax rate in the region has a rate of 1.23%, while the zip code with the lowest median tax rate has a rate of 0.54%. Understanding how these cities compare with Hannibal provides valuable insights into the varying tax landscape across Baker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hannibal Tax Rate
0.67%
Average Baker County Tax Rate
0.80%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hannibal, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Hannibal, Oregon
In Hannibal, 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 Baker 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 Hannibal, 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. For instance, property tax bills can range significantly, with the 25th percentile tax bill at $1,116 and the 75th percentile at $1,740, reaching up to $1,927 at the 90th percentile. 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 Hannibal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hannibal Assessed Value
$218,820
Average Baker County Assessed Value
$242,200
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hannibal, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Hannibal, Oregon
In Hannibal, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners, this means that any changes in the market value of their homes or modifications they make can impact their annual tax bills. In Baker County, where Hannibal is located, the tax bills vary significantly. For instance, the tax bill at the 25th percentile is $1,116, while at the 75th percentile, it rises to $1,740, and at the 90th percentile, it reaches $1,927. These figures indicate that property taxes can be a substantial annual expense for homeowners, influencing their overall financial planning. Compared to the national median property tax rate of 0.99%, understanding how these local factors play into the calculation can help homeowners better anticipate and manage their property tax obligations.
Average Hannibal Tax Bill
$1,428
Average Baker County Tax Bill
$1,787
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Hannibal, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell