Toledo, Oregon Property Taxes
The median property tax rate in Toledo, OR is 0.80%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Toledo at $253,715, the typical annual property tax bill reaches $2,055, falling below the national median of $2,690. Property taxes in Toledo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Toledo'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 Toledo 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
Toledo, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,030
$1,884
Ownwell’s Toledo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toledo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toledo 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 Toledo, Oregon
Property taxes in Toledo, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toledo is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Toledo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toledo 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 Toledo's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97391 zip code has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Toledo 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 Toledo Tax Rate
0.80%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toledo, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97391 | 0.57% | 0.68% | 0.80% | 0.93% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Toledo, Oregon
In Toledo, 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. Assessment notices in Toledo 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 Toledo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Toledo is $253,715, with the highest and lowest median tax bills both recorded at $2,055 in zip code 97391.
Average Toledo Assessed Value
$253,715
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 Toledo, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97391 | $70,358 | $164,805 | $253,715 | $369,930 | $508,745 |
Source: Ownwell
Property Tax Bills Across Toledo, Oregon
In Toledo, property tax bills are calculated based on the assessed value of the home, which is determined by the local government. The assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. For instance, with a median home price of $253,715, homeowners in Toledo can expect property tax bills that vary significantly. The 25th percentile tax bill is around $1,275, while the 75th percentile tax bill reaches $2,891, and the 90th percentile tax bill can be as high as $3,920. These figures highlight the range of property taxes homeowners might face, depending on their property's assessed value and specific tax circumstances. Compared to the national median property tax rate of 0.99%, Toledo's property tax rates can present a varied financial impact on homeowners, influencing their overall cost of living and homeownership affordability. Understanding these factors is crucial for homeowners to effectively manage their expenses and plan for future financial obligations.
Average Toledo Tax Bill
$2,055
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Toledo, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97391 | $553 | $1,275 | $2,055 | $2,891 | $3,920 |
Source: Ownwell