South Beach, Oregon Property Taxes
The median property tax rate in South Beach, OR is 0.90%, 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 South Beach, the typical annual property tax bill reaches $3,265, surpassing the national median of $2,690. Property taxes in South Beach 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 South Beach'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 South Beach 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
South Beach, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$3,414
$3,168
Ownwell’s South Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Beach 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 South Beach, Oregon
Property taxes in South Beach, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Beach is 0.90%, slightly lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within South Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Beach 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 South Beach's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97366 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with South Beach 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 South Beach Tax Rate
0.90%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Beach, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97366 | 0.67% | 0.78% | 0.90% | 1.03% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across South Beach, Oregon
In South Beach, 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 South Beach, 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. For instance, the highest median tax bill in South Beach is $3,265 in the 97366 zip code, while the lowest median tax bill is also $3,265 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Beach Assessed Value
$379,375
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 South Beach, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97366 | $92,420 | $222,670 | $379,375 | $608,578 | $809,454 |
Source: Ownwell
Property Tax Bills Across South Beach, Oregon
In South Beach, Lincoln County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in South Beach, the median home price is $379,375. Property tax bills can vary significantly, with the 25th percentile at $1,978 and the 75th percentile reaching $5,529. The highest median tax bill in the area is $3,265, found in the 97366 zip code, which is also the lowest median tax bill in the region. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or abatements. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these factors impact their tax bill is crucial for financial planning and managing annual expenses.
Average South Beach Tax Bill
$3,265
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across South Beach, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97366 | $802 | $1,978 | $3,265 | $5,529 | $8,315 |
Source: Ownwell