Merrill, Oregon Property Taxes
The median property tax rate in Merrill, OR is 0.56%, which is significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Merrill at $154,520, the typical annual property tax bill is $985, well below the national median of $2,690. Property taxes in Merrill are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Merrill'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 Merrill 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
Merrill, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$865
$803
Ownwell’s Merrill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merrill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merrill 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 Merrill, Oregon
Property taxes in Merrill, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merrill is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Merrill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merrill 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 Merrill's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97633 has the same median property tax rate of 0.56%, highlighting a consistent tax landscape within Klamath County. Understanding how these areas compare with Merrill provides valuable insights into the varying tax landscape across Klamath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Merrill Tax Rate
0.56%
Average Klamath County Tax Rate
0.72%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merrill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97633 | 0.37% | 0.47% | 0.56% | 0.89% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Merrill, Oregon
In Merrill, 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 Klamath 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. Assessment notices in Merrill 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. The median home price in Merrill stands at $154,520, with tax bills ranging from $498 at the 25th percentile to $2,142 at the 90th percentile. The highest and lowest median tax bills both stand at $985 in the 97633 zip code. Being aware of these valuation processes in Merrill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Merrill Assessed Value
$154,520
Average Klamath County Assessed Value
$184,440
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Merrill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97633 | $31,640 | $72,720 | $154,520 | $275,270 | $399,752 |
Source: Ownwell
Property Tax Bills Across Merrill, Oregon
Property tax bills in Merrill, located in Klamath County, OR, are determined based on the assessed value of a property, which is often lower than the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors influencing the assessed value include property size, location, and any improvements made. In Merrill, homeowners can expect a range of property tax bills: from $498 at the 25th percentile to $2142 at the 90th percentile, with the median tax bill being $985. This is notably lower than the national median property tax rate of 0.99%. While these taxes fund essential public services such as schools, roads, and emergency services, they can vary significantly within the city, impacting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Merrill Tax Bill
$985
Average Klamath County Tax Bill
$1,333
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Merrill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97633 | $208 | $498 | $985 | $1,463 | $2,142 |
Source: Ownwell