Riley, Oregon Property Taxes
The median property tax rate in Riley, OR is 0.38%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Riley at $491,075, the typical annual property tax bill reaches $1,869, falling short of the national median of $2,690. Property taxes in Riley 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 Riley'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 Riley 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
Riley, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$1,866
$1,732
Ownwell’s Riley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riley 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 Riley, Oregon
Property taxes in Riley, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riley is 0.94%, significantly higher than the Oregon state median of 0.93% but slightly below the U.S. national median of 0.99%. Local government entities within Riley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riley 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 Riley's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97355 zip code has the highest median property tax rate of 1.05%, while the 97623 zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Riley 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 Riley Tax Rate
0.38%
Average Harney County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97758 | 0.25% | 0.31% | 0.38% | 0.62% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Riley, Oregon
In Riley, 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 Assessment 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 Riley, 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 Riley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 97758 has both the highest and lowest median tax bills of $1,869.
Average Riley Assessed Value
$491,075
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 Riley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97758 | $139,855 | $293,915 | $491,075 | $1,941,062 | $4,308,115 |
Source: Ownwell
Property Tax Bills Across Riley, Oregon
In Riley, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The median home price in Riley is $491,075. Tax bills reflect a combination of this assessed value and the local tax rate. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value, thereby affecting the tax bill. Homeowners in Riley can expect varied tax bills, with the 25th percentile at $1,169 and the 75th percentile at $4,186. For those in the 90th percentile, tax bills can reach up to $8,893. These figures illustrate the range of property tax obligations depending on the value of the property and the specific circumstances of each assessment. Compared to the national median property tax rate of 0.99%, Riley's property taxes can be significantly impactful for homeowners, influencing their overall cost of living and financial planning. Understanding these factors helps homeowners anticipate their property tax liabilities more accurately.
Average Riley Tax Bill
$1,869
Average Harney County Tax Bill
$1,316
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Riley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97758 | $618 | $1,169 | $1,869 | $4,186 | $8,893 |
Source: Ownwell