Redmond, Oregon Property Taxes
The median property tax rate in Redmond, OR is 0.45%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Redmond, the typical annual property tax bill reaches $4,274, surpassing the national median of $2,690. Property taxes in Redmond 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 Redmond'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 Redmond 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
Redmond, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$3,904
Ownwell’s Redmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redmond 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 Redmond, Oregon
Property taxes in Redmond, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redmond is 0.45%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Redmond set these rates annually, and they can vary across different neighborhoods. Each year, Redmond 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 Redmond's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97756 has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Redmond provides valuable insights into the varying tax landscape across Crook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redmond Tax Rate
0.45%
Average Crook County Tax Rate
0.56%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | 0.32% | 0.43% | 0.45% | 0.49% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Redmond, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Redmond, Oregon. 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 Crook 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. Assessment notices in Redmond 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 Redmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Redmond are both $4,274, all within the 97756 zip code.
Average Redmond Assessed Value
$867,510
Average Crook County Assessed Value
$411,765
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | $430,030 | $711,220 | $867,510 | $1,515,070 | $1,647,840 |
Source: Ownwell
Property Tax Bills Across Redmond, Oregon
In Redmond, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is often lower than the market value and serves as the basis for calculating your tax bill. Crook County has a median home price of $867,510, and property tax rates are applied to this assessed value to determine the amount owed. Several factors influence your property tax bill, including the property's location, size, and any improvements made. In Redmond, the 25th percentile of tax bills is $3,404, while the 75th percentile is $5,270, and the 90th percentile reaches $6,984. The highest median tax bill in Redmond is $4,274, which is significantly higher than the national median property tax rate of 0.99%. For homeowners, these tax bills can impact monthly mortgage payments and overall housing affordability. Understanding how property taxes are calculated can help homeowners budget more effectively and potentially seek exemptions or appeals to lower their tax burden.
Average Redmond Tax Bill
$4,274
Average Crook County Tax Bill
$2,320
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Redmond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97756 | $2,896 | $3,404 | $4,274 | $5,270 | $6,984 |
Source: Ownwell