Myrtle Point, Oregon Property Taxes
The median property tax rate in Myrtle Point, OR is 0.62%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Myrtle Point at $290,995, the typical annual property tax bill reaches $1,774, which is below the national median of $2,690. Property taxes in Myrtle Point 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 Myrtle Point'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 Myrtle Point 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
Myrtle Point, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,804
$1,674
Ownwell’s Myrtle Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myrtle Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myrtle Point 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 Myrtle Point, Oregon
Property taxes in Myrtle Point, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Myrtle Point is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Myrtle Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myrtle Point 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 Myrtle Point's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97458 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Myrtle Point provides valuable insights into the varying tax landscape across Coos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Myrtle Point Tax Rate
0.62%
Average Coos County Tax Rate
0.60%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myrtle Point, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97458 | 0.33% | 0.43% | 0.62% | 0.76% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Myrtle Point, Oregon
In Myrtle Point, 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 Coos 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 Myrtle Point, 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 Myrtle Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 97458 has the highest and lowest median tax bills, both at $1,774.
Average Myrtle Point Assessed Value
$290,995
Average Coos County Assessed Value
$340,850
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Myrtle Point, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97458 | $167,903 | $222,175 | $290,995 | $389,372 | $517,025 |
Source: Ownwell
Property Tax Bills Across Myrtle Point, Oregon
Property tax bills in Myrtle Point, Coos County, OR, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is often a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Myrtle Point, the median home price is $290,995. Property tax bills can vary widely, with the 25th percentile at $1,180 and the 75th percentile at $2,322. The 90th percentile sees bills as high as $3,027. This range indicates that while some homeowners may face relatively modest property tax bills, others could experience much higher costs, impacting their overall financial planning. With the national median property tax rate at 0.99%, understanding these local variations is crucial for homeowners to anticipate their annual financial obligations effectively.
Average Myrtle Point Tax Bill
$1,774
Average Coos County Tax Bill
$2,086
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Myrtle Point, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97458 | $781 | $1,180 | $1,774 | $2,322 | $3,027 |
Source: Ownwell