Medford, Oregon Property Taxes
The median property tax rate in Medford, OR is 0.92%, slightly lower than the national median of 0.99% but higher than Oregon's state median of 0.86%. With the median home value in Medford at $315,390, the typical annual property tax bill reaches $2,854, surpassing the national median of $2,690. Property taxes in Medford are calculated based on the tax assessed value, which typically falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Medford'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 Medford or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Medford, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,902
Ownwell’s Medford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Medford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Medford 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 Jackson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Medford, Oregon
Property taxes in Medford, Oregon, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Medford is 0.92%, which is slightly below the U.S. national median of 0.99%. Local government entities within Medford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Medford 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 Medford's effective property tax rate to other areas in Jackson County and the national median. For comparison, the 97504 zip code has the highest median property tax rate of 0.94%, while the 97501 zip code has the lowest median tax rate of 0.88%. Understanding how these areas compare with Medford provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Medford Tax Rate
0.92%
Average Jackson County Tax Rate
0.87%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Medford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97501 | 0.53% | 0.74% | 0.88% | 1.03% | 1.20% |
| 97502 | 0.48% | 0.74% | 0.89% | 1.06% | 1.31% |
| 97504 | 0.76% | 0.85% | 0.94% | 1.02% | 1.14% |
| 97520 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Medford, Oregon
In Medford, 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 Jackson 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 Medford, 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 Medford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Medford is $3,490 in the 97504 zip code, while the lowest median tax bill is $750 in the 97502 zip code.
Average Medford Assessed Value
$315,390
Average Jackson County Assessed Value
$322,910
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Medford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97501 | $87,679 | $144,768 | $226,355 | $336,730 | $400,500 |
| 97502 | $4,972 | $68,510 | $82,970 | $98,490 | $194,412 |
| 97504 | $219,314 | $285,875 | $380,350 | $500,065 | $656,066 |
| 97520 | $8,850 | $8,850 | $8,850 | $8,850 | $8,850 |
Source: Ownwell
Property Tax Bills Across Medford, Oregon
Property tax bills in Medford, Jackson County, OR, are calculated based on the assessed value of a property and the county's tax rate. The assessed value is determined by the county assessor and is typically lower than the market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Various factors, such as property improvements, neighborhood developments, and local government budgets, can influence the assessed value and tax rate. For homeowners in Medford, the median home price is $315,390. Property tax bills can vary significantly, with the 25th percentile at $2,075 and the 75th percentile reaching $3,819. In some areas, like the 97504 zip code, the median tax bill can be as high as $3,490, while in the 97502 zip code, it can be as low as $750. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Medford Tax Bill
$2,854
Average Jackson County Tax Bill
$2,797
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Medford, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97501 | $549 | $1,520 | $2,174 | $2,843 | $3,372 |
| 97502 | $19 | $165 | $750 | $1,484 | $2,098 |
| 97504 | $2,173 | $2,687 | $3,490 | $4,585 | $6,018 |
| 97520 | $25 | $25 | $25 | $25 | $25 |
Source: Ownwell