Scio, Oregon Property Taxes
The median property tax rate in Scio, OR is 0.47%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Scio at $472,430, the typical annual property tax bill reaches $2,307, below the national median of $2,690. Property taxes in Scio 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 Scio'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 Scio 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
Scio, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,220
Ownwell’s Scio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scio 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 Scio, Oregon
Property taxes in Scio, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scio is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Scio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scio 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 Scio's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97374 has both the highest and lowest median property tax rate of 0.47%. Understanding how these areas compare with Scio 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 Scio Tax Rate
0.47%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scio, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97374 | 0.24% | 0.35% | 0.47% | 0.62% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Scio, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Scio, Oregon. 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 Scio, 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 Scio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Scio are both $2,307, found in the 97374 zip code.
Average Scio Assessed Value
$472,430
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 Scio, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97374 | $82,006 | $250,880 | $472,430 | $690,760 | $911,208 |
Source: Ownwell
Property Tax Bills Across Scio, Oregon
In Scio, located in Linn County, OR, property tax bills are calculated based on the assessed value of the property rather than its market value. The assessed value is determined by the county assessor and is typically lower than the market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Key factors considered in determining the tax bill include the property's size, location, and any improvements or modifications made. For homeowners in Scio, the tax burden can vary significantly. For instance, those in the 25th percentile pay around $1,281 annually, while those in the 75th percentile see bills closer to $3,410. At the 90th percentile, tax bills can reach up to $4,642. Comparatively, the median property tax rate in Scio aligns closely with the national median of 0.99%. This means that while the tax rates are competitive, the actual amount paid can fluctuate based on the assessed value and specific property characteristics, impacting homeowners differently.
Average Scio Tax Bill
$2,307
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Scio, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97374 | $469 | $1,281 | $2,307 | $3,410 | $4,642 |
Source: Ownwell