Diamond, Oregon Property Taxes
The median property tax rate in Diamond, OR is 0.37%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Diamond at $844,455, the typical annual property tax bill reaches $3,848, surpassing the national median of $2,690. Property taxes in Diamond 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 Diamond'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 Diamond 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
Diamond, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$3,124
Ownwell’s Diamond Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Diamond. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Diamond to provide an accurate estimate of your property tax bill. This powerful tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Diamond, Oregon
Property taxes in Diamond, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Diamond is 0.68%, which is notably higher than the Oregon state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Diamond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diamond 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 Diamond's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97201 zip code has the highest median property tax rate of 1.13%, while the 97001 zip code has the lowest median tax rate of 0.55%. Understanding how these cities compare with Diamond provides valuable insights into the varying tax landscape across Harney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Diamond Tax Rate
0.37%
Average Harney County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diamond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97722 | 0.24% | 0.27% | 0.37% | 0.47% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Diamond, Oregon
In Diamond, 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 Harney County Assessor's Office 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 Diamond, 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 Diamond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97722 has both the highest and lowest median tax bill, valued at $3,848.
Average Diamond Assessed Value
$844,455
Average Harney County Assessed Value
$154,155
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Diamond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97722 | $220,474 | $284,632 | $844,455 | $1,499,795 | $1,839,836 |
Source: Ownwell
Property Tax Bills Across Diamond, Oregon
In Diamond, located in Harney County, OR, property tax bills are determined by the assessed value of a home, which differs from its market value. The assessed value is calculated based on state guidelines and is often lower than the market value. The median home price in Diamond is $844,455, which provides a context for understanding property tax bills in the area. Tax bills consider various percentiles. For instance, homeowners at the 25th percentile pay approximately $1,928, while those at the 75th percentile face bills around $5,529. The 90th percentile sees tax bills as high as $6,081. These figures indicate a range of property tax burdens, reflecting differences in home values and assessed rates. Harney County's highest and lowest median tax bills are both $3,848, which is above the national median property tax rate of 0.99%. This higher rate can significantly impact homeowners, making it crucial for them to understand how their property is assessed and what factors into their tax liabilities.
Average Diamond Tax Bill
$3,848
Average Harney County Tax Bill
$1,316
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Diamond, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97722 | $1,351 | $1,928 | $3,848 | $5,529 | $6,081 |
Source: Ownwell