Siletz, Oregon Property Taxes
The median property tax rate in Siletz, OR is 0.72%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Siletz at $236,900, the typical annual property tax bill amounts to $1,609, well below the national median of $2,690. Property taxes in Siletz are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Siletz'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 Siletz 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
Siletz, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,706
$1,583
Ownwell’s Siletz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Siletz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Siletz 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 Siletz, Oregon
Property taxes in Siletz, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Siletz is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Siletz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Siletz 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 Siletz's effective property tax rate to other areas in Lincoln County and the national median. For comparison, the zip code 97380 has both the highest and the lowest median property tax rate in the region at 0.72%. Understanding how these areas compare with Siletz provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Siletz Tax Rate
0.72%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Siletz, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97380 | 0.50% | 0.62% | 0.72% | 0.86% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Siletz, Oregon
In Siletz, 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 Lincoln 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 Siletz, 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 Siletz helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 97380 has the highest and lowest median tax bill, both at $1609.
Average Siletz Assessed Value
$236,900
Average Lincoln County Assessed Value
$341,090
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Siletz, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97380 | $18,578 | $95,240 | $236,900 | $361,810 | $502,508 |
Source: Ownwell
Property Tax Bills Across Siletz, Oregon
In Siletz, located in Lincoln County, OR, property tax bills are determined by assessing the market value of a home and then applying the local tax rate. The median home price in Siletz is $236,900, and the property tax rate is calculated based on this assessed value. Factors such as the property's size, location, and improvements can influence the assessed value. For homeowners in Siletz, the property tax bill varies significantly. The 25th percentile tax bill is $692, while the 75th percentile reaches $2,546, and the 90th percentile can go as high as $3,765. These variations highlight how different factors and assessments can lead to a wide range of tax bills. Compared to the national median property tax rate of 0.99%, Siletz homeowners experience a diverse range of tax obligations, impacting their financial planning and homeownership costs. Understanding these factors can help homeowners better anticipate their annual tax responsibilities and manage their budgets effectively.
Average Siletz Tax Bill
$1,609
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Siletz, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97380 | $166 | $692 | $1,609 | $2,546 | $3,765 |
Source: Ownwell