Elkton, Oregon Property Taxes
The median property tax rate in Elkton, OR is 0.58%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $210,604, the typical annual property tax bill in Elkton is $1,124, well below the national median of $2,690. Property taxes in Elkton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Elkton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Elkton 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
Elkton, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,222
$1,134
Ownwell’s Elkton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elkton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elkton 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 Elkton, Oregon
Property taxes in Elkton, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elkton is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Elkton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elkton 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 Elkton's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97436 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Elkton 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 Elkton 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 Elkton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97436 | 0.39% | 0.47% | 0.58% | 0.71% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Elkton, Oregon
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Elkton, Oregon. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Elkton, 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 Elkton 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 $1,124, specifically in zip code 97436.
Average Elkton Assessed Value
$210,604
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 Elkton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97436 | $10,266 | $47,010 | $210,604 | $349,904 | $485,641 |
Source: Ownwell
Property Tax Bills Across Elkton, Oregon
In Elkton, Douglas County, OR, property tax bills are calculated based on the assessed value of a home, which differs from its market value. The assessed value is determined by the county assessor's office and is typically lower than the market value to provide some relief to homeowners. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Elkton, the property tax bill can vary significantly. The 25th percentile tax bill is around $252, while the 75th percentile tax bill is approximately $1,999, indicating a wide range of tax burdens based on property characteristics. The highest median tax bill in the area is $1,124, found in the zip code 97436. These tax bills directly impact homeowners' annual expenses, making it crucial to understand the assessment process and potential exemptions that may apply.
Average Elkton Tax Bill
$1,124
Average Douglas County Tax Bill
$1,430
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Elkton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97436 | $77 | $252 | $1,124 | $1,999 | $2,851 |
Source: Ownwell