New Richmond, Oregon Property Taxes
The median property tax rate in New Richmond, OR is 0.94%, slightly lower than the national median of 0.99% but higher than Oregon's state median of 0.86%. With a median home value of $92,515 in New Richmond, the typical annual property tax bill is around $830, which is significantly less than the national median of $2,690. Property taxes in New Richmond 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 New Richmond'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 New Richmond 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
New Richmond, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$870
$807
Ownwell’s New Richmond Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Richmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Richmond to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more granular insights, scrolling down will reveal trends and data at the neighborhood level. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions, ensuring you have a clear picture of your tax responsibilities.
Property Tax Rates Across New Richmond, Oregon
Property taxes in New Richmond, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Richmond is 1.21%, higher than both the Oregon state median of 0.91% and the U.S. national median of 0.99%. Local government entities within New Richmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Richmond 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 New Richmond's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97201 zip code has the highest median property tax rate of 1.26%, while the 97401 zip code has the lowest median tax rate of 0.83%. Understanding how these cities compare with New Richmond 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 New Richmond Tax Rate
0.94%
Average Baker County Tax Rate
0.80%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Richmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across New Richmond, Oregon
In New Richmond, 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 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 New Richmond, 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 example, the tax bill at the 25th percentile is $471, while at the 75th percentile, it reaches $1212. 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 New Richmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Richmond Assessed Value
$92,515
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 New Richmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across New Richmond, Oregon
In New Richmond, located in Baker County, OR, property tax bills are determined based on the assessed value of a home, which may differ from its market value. The assessed value is calculated by the local tax assessor and is influenced by various factors, including the property's size, location, and condition. Homeowners in New Richmond can expect their property tax bills to vary significantly. For example, at the 25th percentile, the tax bill is around $471, while at the 75th percentile, it rises to approximately $1,212. Those in the 90th percentile can see tax bills as high as $1,934. These figures highlight the range of property taxes homeowners might encounter. Compared to the national median property tax rate of 0.99%, these tax bills reflect the unique valuation methods and local tax rates applied in Baker County. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average New Richmond Tax Bill
$830
Average Baker County Tax Bill
$1,787
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across New Richmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell