Hereford, Oregon Property Taxes
The median property tax rate in Hereford, OR, is 0.53%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Hereford at $196,990, the typical annual property tax bill amounts to $981, well below the national median of $2,690. Property taxes in Hereford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hereford'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 Hereford or another part of Baker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hereford, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,044
$969
Ownwell’s Hereford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hereford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hereford 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 Hereford, Oregon
Property taxes in Hereford, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hereford is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Hereford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hereford 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 Hereford's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97837 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Hereford 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 Hereford Tax Rate
0.53%
Average Baker County Tax Rate
0.80%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hereford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97837 | 0.32% | 0.40% | 0.53% | 0.77% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Hereford, Oregon
In Hereford, 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. 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 Hereford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $981.00, found in the zip code 97837.
Average Hereford Assessed Value
$196,990
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 Hereford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97837 | $33,165 | $58,828 | $196,990 | $927,298 | $1,357,000 |
Source: Ownwell
Property Tax Bills Across Hereford, Oregon
In Hereford, Baker County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is typically lower than the market value and is adjusted annually. The tax rate is then applied to the assessed value to determine the tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. For homeowners in Hereford, the median home price stands at $196,990. Property tax bills can vary significantly, with the 25th percentile at $398 and the 75th percentile at $3,492. The 90th percentile tax bill can reach up to $6,036. Compared to the national median property tax rate of 0.99%, Hereford's tax rates can be seen as either a burden or a relief, depending on individual circumstances. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Hereford Tax Bill
$981
Average Baker County Tax Bill
$1,787
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Hereford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97837 | $229 | $398 | $981 | $3,492 | $6,036 |
Source: Ownwell