Gates, Oregon Property Taxes
The median property tax rate in Gates, OR is 0.60%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Gates at $407,300, the typical annual property tax bill reaches $2,530, which is still below the national median of $2,690. Property taxes in Gates 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 Gates' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gates 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
Gates, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$2,444
$2,268
Ownwell’s GATES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GATES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GATES 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 Gates, Oregon
Property taxes in Gates, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gates is 0.60%, significantly lower than the U.S. national median of 0.99%. Local government entities within Gates set these rates annually, and they can vary across different neighborhoods. Each year, Gates 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 Gates' effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97346 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these rates compare with Gates provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gates Tax Rate
0.60%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gates, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | 0.36% | 0.45% | 0.60% | 0.73% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Gates, Oregon
In Gates, 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 Linn 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 Gates, 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 Gates helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Gates is $2530.00 in zip code 97346, which is also the lowest median tax bill, highlighting a uniform tax landscape in the area.
Average Gates Assessed Value
$407,300
Average Linn County Assessed Value
$372,065
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gates, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | $104,746 | $253,615 | $407,300 | $568,860 | $691,346 |
Source: Ownwell
Property Tax Bills Across Gates, Oregon
In the city of Gates, located in Linn County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $407,300, homeowners can expect their property tax bills to vary widely. The tax bill for the 25th percentile is around $1,359, while the 75th percentile sees bills of approximately $3,463. Those in the 90th percentile face even higher bills, reaching up to $4,258. Factors influencing the tax bill include property location, improvements, and market conditions. Compared to the national median property tax rate of 0.99%, the property taxes in Gates may seem high for some homeowners. This variability in tax bills can significantly impact homeowners, influencing their budgeting and long-term financial planning. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Gates Tax Bill
$2,530
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Gates, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | $523 | $1,359 | $2,530 | $3,463 | $4,258 |
Source: Ownwell