Tolovana Park, Oregon Property Taxes
The median property tax rate in Tolovana Park, OR is 0.41%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Tolovana Park at $1,240,290, the typical annual property tax bill reaches $4,917, which exceeds the national median of $2,690. Property taxes in Tolovana Park 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 Tolovana Park'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 Tolovana Park 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
Tolovana Park, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$5,085
Ownwell’s Tolovana Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tolovana Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tolovana Park 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 Tolovana Park, Oregon
Property taxes in Tolovana Park, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tolovana Park is 0.41%, which is lower than the U.S. national median of 0.99%. Local government entities within Tolovana Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tolovana Park 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. Understanding how Tolovana Park's effective property tax rate compares to other areas in Clatsop County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tolovana Park Tax Rate
0.41%
Average Clatsop County Tax Rate
0.63%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tolovana Park, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97145 | 0.33% | 0.36% | 0.41% | 0.45% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Tolovana Park, Oregon
In Tolovana Park, 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 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 Tolovana Park, 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 Tolovana Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $4,917, with the zip code 97145 reflecting this value.
Property Tax Assessment Values Across Tolovana Park, Oregon
Source: Ownwell
$314,332
$777,311
$1,240,290
Average Tolovana Park Assessed Value
$1,240,290
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 Tolovana Park, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97145 | $1,140,121 | $1,177,684 | $1,240,290 | $1,302,895 | $1,340,458 |
Source: Ownwell
Property Tax Bills Across Tolovana Park, Oregon
In Tolovana Park, property tax bills are calculated based on the assessed value of a home, which is determined by the Clatsop County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Tolovana Park is $1,240,290, significantly higher than the national median. Consequently, property tax bills in this area reflect this higher home value. For instance, homeowners in Tolovana Park can expect tax bills ranging from $4,584 at the 25th percentile to $5,450 at the 90th percentile. The highest median tax bill in the area is $4,917, consistent across the zip code 97145. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Given the substantial property values, homeowners in Tolovana Park should be prepared for higher tax bills, which are vital for maintaining the area's services and amenities.
Average Tolovana Park Tax Bill
$4,917
Average Clatsop County Tax Bill
$3,200
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Tolovana Park, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97145 | $4,384 | $4,584 | $4,917 | $5,250 | $5,450 |
Source: Ownwell