Talent, Oregon Property Taxes
The median property tax rate in Talent, OR is 0.95%, slightly lower than the national median of 0.99% but higher than the Oregon state median of 0.86%. With the median home value in Talent at $283,010, the typical annual property tax bill reaches $2,653, just below the national median of $2,690. Property taxes in Talent 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 Talent'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 Talent 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
Talent, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,689
$2,495
Ownwell’s Talent Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Talent with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Talent to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value, determined by Jackson County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Talent, Oregon
Property taxes in Talent, Oregon, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Talent is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Talent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talent 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 Talent's effective property tax rate to other areas in Jackson County and the national median. For comparison, the zip code 97540 has the same median property tax rate of 0.95%. Understanding how these areas compare with Talent 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 Talent Tax Rate
0.95%
Average Jackson County Tax Rate
0.87%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97540 | 0.43% | 0.70% | 0.95% | 1.04% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Talent, Oregon
In Talent, 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 Talent, 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 Talent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Talent is $283,010, with the 25th percentile tax bill at $1,345 and the 75th percentile tax bill at $3,648. The highest and lowest median tax bills are both $2,653, found in the 97540 zip code.
Average Talent Assessed Value
$283,010
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 Talent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97540 | $64,000 | $152,898 | $283,010 | $388,185 | $480,736 |
Source: Ownwell
Property Tax Bills Across Talent, Oregon
In Talent, Jackson County, OR, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is often lower than the market value of the home. Various factors such as property size, location, and improvements are considered in this valuation. The local tax rate is then applied to the assessed value to determine the tax bill. For homeowners in Talent, the tax bill can vary significantly. For example, the 25th percentile tax bill is $1,345, while the 75th percentile tax bill reaches $3,648. At the higher end, the 90th percentile tax bill is $4,459. These taxes fund essential public services like schools, emergency services, and infrastructure. Homeowners in Talent should be aware of how these factors influence their tax bills, as they can have a substantial impact on annual expenses, especially when compared to the national median property tax rate of 0.99%.
Average Talent Tax Bill
$2,653
Average Jackson County Tax Bill
$2,797
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Talent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97540 | $456 | $1,345 | $2,653 | $3,648 | $4,459 |
Source: Ownwell