Drain, Oregon Property Taxes
The median property tax rate in Drain, OR is 0.58%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Drain, the typical annual property tax bill reaches $1,055, well below the national median of $2,690. Property taxes in Drain 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 Drain'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 Drain 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
Drain, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,133
Ownwell’s Drain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drain 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 Drain, Oregon
Property taxes in Drain, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Drain is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Drain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drain 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 Drain's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97435 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Drain provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Drain Tax Rate
0.58%
Average Douglas County Tax Rate
0.66%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drain, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97435 | 0.37% | 0.49% | 0.58% | 0.67% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Drain, Oregon
In Drain, 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 Douglas 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 Drain, 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 Drain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Drain is $195,404, with the highest median tax bill recorded at $1,055 in zip code 97435.
Average Drain Assessed Value
$195,404
Average Douglas County Assessed Value
$222,242
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drain, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97435 | $9,347 | $58,564 | $195,404 | $285,972 | $376,502 |
Source: Ownwell
Property Tax Bills Across Drain, Oregon
In Drain, located in Douglas County, OR, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is typically lower than the market value and is adjusted annually. The local tax rate is applied to this assessed value to determine the tax bill. For homeowners in Drain, the median home price is $195,404, with property tax bills ranging significantly. The 25th percentile tax bill is $275, while the 75th percentile reaches $1,663, and the 90th percentile can go up to $2,209. These variations show how different factors, such as property improvements and neighborhood changes, can affect tax bills. Compared to the national median property tax rate of 0.99%, Drain's tax rates reflect local economic conditions and funding needs for public services. Homeowners must account for these taxes as part of their annual expenses, influencing their overall cost of homeownership and financial planning.
Average Drain Tax Bill
$1,055
Average Douglas County Tax Bill
$1,430
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Drain, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97435 | $74 | $275 | $1,055 | $1,663 | $2,209 |
Source: Ownwell