Mt Vernon, Oregon Property Taxes
The median property tax rate in MT VERNON, OR is 0.66%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in MT VERNON at $191,335, the typical annual property tax bill is $1,246, well below the national median of $2,690. Property taxes in MT VERNON 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 MT VERNON'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 MT VERNON 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
Mt Vernon, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,263
Ownwell’s MT VERNON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MT VERNON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MT VERNON 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 Mt Vernon, Oregon
Property taxes in MT VERNON, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MT VERNON is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within MT VERNON set these rates annually, and they can vary significantly across different neighborhoods. Each year, MT VERNON 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 MT VERNON's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97865 zip code has both the highest and lowest median property tax rate of 0.66%, reflecting a uniform tax landscape within the region. Understanding how these cities compare with MT VERNON provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mt Vernon Tax Rate
0.66%
Average Grant County Tax Rate
0.75%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mt Vernon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97865 | 0.54% | 0.59% | 0.66% | 0.73% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Mt Vernon, Oregon
In MT VERNON, 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 Grant 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 MT VERNON, 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. The median home price in MT VERNON is $191,335, with tax bills ranging from $1,137 at the 25th percentile to $1,420 at the 90th percentile. The zip code 97865 has the highest and lowest median tax bill at $1,246. 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 MT VERNON helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mt Vernon Assessed Value
$191,335
Average Grant County Assessed Value
$184,015
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mt Vernon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97865 | $185,443 | $187,652 | $191,335 | $195,018 | $197,227 |
Source: Ownwell
Property Tax Bills Across Mt Vernon, Oregon
In MT VERNON, OR, within Grant County, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in this area, the median home price is approximately $191,335. Property tax bills can vary significantly, with the 25th percentile paying around $1,137 and the 75th percentile paying about $1,354. The highest median tax bill in MT VERNON is $1,246, which aligns with the national median property tax rate of 0.99%. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. Higher assessed values typically result in higher tax bills, impacting homeowners' overall expenses. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly. By staying informed, residents can better navigate their property tax obligations and potentially seek opportunities for tax relief.
Average Mt Vernon Tax Bill
$1,246
Average Grant County Tax Bill
$1,399
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Mt Vernon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97865 | $1,071 | $1,137 | $1,246 | $1,354 | $1,420 |
Source: Ownwell