Midland, Oregon Property Taxes
The median property tax rate in Midland, Oregon is 0.57%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Midland at $229,410, the typical annual property tax bill reaches $1,210, significantly below the national median of $2,690. Property taxes in Midland 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 Midland'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 Midland 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
Midland, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,308
$1,213
Ownwell’s Midland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midland 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 Midland, Oregon
Property taxes in Midland, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 0.57%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Midland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midland 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 Midland's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97634 zip code has the highest median property tax rate of 0.57%, while the 97634 zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Midland 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 Midland Tax Rate
0.57%
Average Klamath County Tax Rate
0.72%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97634 | 0.36% | 0.43% | 0.57% | 0.72% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Midland, Oregon
In Midland, 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 Appraisal District 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 Midland, 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 Midland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 97634 has the highest median tax bill of $1,210.
Average Midland Assessed Value
$229,410
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 Midland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97634 | $49,414 | $130,640 | $229,410 | $297,560 | $363,952 |
Source: Ownwell
Property Tax Bills Across Midland, Oregon
In Midland, Klamath County, OR, property tax bills are calculated based on the assessed value of your home, which differs from the market value. The assessed value is determined by local tax assessors and is often lower than the market value. Homeowners in Midland can expect their property tax bills to vary significantly depending on several factors, including the assessed value of their property and the specific tax rates set by local taxing authorities. For example, the median home price in Midland is $229,410. Property tax bills in the area range widely, with the 25th percentile tax bill at $858 and the 75th percentile at $1,454. The 90th percentile reaches up to $1,929, indicating that higher-value properties face steeper tax bills. Comparatively, the national median property tax rate is 0.99%, making Midland's rates relatively moderate. These property tax bills directly impact homeowners' annual expenses, influencing decisions on purchasing, selling, or investing in property within the region. Understanding these factors can help homeowners better manage their financial planning and property investments.
Average Midland Tax Bill
$1,210
Average Klamath County Tax Bill
$1,333
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Midland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97634 | $369 | $858 | $1,210 | $1,454 | $1,929 |
Source: Ownwell