Gearhart, Oregon Property Taxes
The median property tax rate in Gearhart, OR is 0.69%, lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Gearhart at $423,012, the typical annual property tax bill reaches $2,900, slightly above the national median of $2,690. Property taxes in Gearhart 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 Gearhart'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 Gearhart 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
Gearhart, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$2,919
$2,709
Ownwell’s Gearhart Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gearhart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gearhart 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 Gearhart, Oregon
Property taxes in Gearhart, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gearhart is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Gearhart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gearhart 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 Gearhart's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97138 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these figures compare with Gearhart provides valuable insights into the varying tax landscape across Clatsop County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gearhart Tax Rate
0.69%
Average Clatsop County Tax Rate
0.63%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gearhart, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97138 | 0.53% | 0.69% | 0.69% | 0.69% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Gearhart, Oregon
In Gearhart, 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 Clatsop 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 Gearhart, 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. With a median home price of $423,012, the tax bill for the 25th percentile is $2,305, while the 75th percentile sees a tax bill of $4,404. The highest median tax bill in Gearhart is $2,900, found in the 97138 zip code, which also has the lowest median tax bill at $2,900. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gearhart Assessed Value
$423,012
Average Clatsop County Assessed Value
$501,530
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gearhart, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97138 | $262,686 | $313,251 | $423,012 | $639,143 | $1,138,093 |
Source: Ownwell
Property Tax Bills Across Gearhart, Oregon
In Gearhart, Oregon, property tax bills are calculated based on the assessed value of a home, which is determined by the Clatsop County Assessor's office. This assessed value typically differs from the market value and is influenced by factors such as property size, location, and improvements. Once the assessed value is established, the tax rate, which in Gearhart aligns closely with the national median of 0.99%, is applied to calculate the annual tax bill. For homeowners in Gearhart, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $2,305, while those in the 75th percentile pay approximately $4,404. The top 10% of homeowners face even higher bills, with the 90th percentile reaching $6,193. These variations are influenced by differences in property values and specific local levies. Understanding these factors is crucial for homeowners as property taxes represent a significant annual expense, impacting overall housing costs and financial planning.
Average Gearhart Tax Bill
$2,900
Average Clatsop County Tax Bill
$3,200
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Gearhart, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97138 | $1,810 | $2,305 | $2,900 | $4,404 | $6,193 |
Source: Ownwell