Sweet Home, Oregon Property Taxes
The median property tax rate in Sweet Home, OR is 0.79%, lower than both the national median of 0.99% and Oregon's state median of 0.86%. With the median home value in Sweet Home at $303,765, the typical annual property tax bill amounts to $2,454, which is below the national median of $2,690. Property taxes in Sweet Home 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 Sweet Home'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 Sweet Home 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
Sweet Home, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$2,400
$2,227
Ownwell’s Sweet Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sweet Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sweet Home 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 Sweet Home, Oregon
Property taxes in Sweet Home, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sweet Home is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Sweet Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sweet Home 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 Sweet Home's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97386 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Sweet Home 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 Sweet Home Tax Rate
0.79%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sweet Home, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97386 | 0.44% | 0.57% | 0.79% | 1.06% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Sweet Home, Oregon
In Sweet Home, 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 Sweet Home, 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. For example, the median home price in Sweet Home is $303,765, with tax bills ranging from $1,469 at the 25th percentile to $4,649 at the 90th percentile. The highest and lowest median tax bills both stand at $2,454 in the 97386 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sweet Home Assessed Value
$303,765
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 Sweet Home, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97386 | $61,444 | $187,320 | $303,765 | $413,625 | $588,052 |
Source: Ownwell
Property Tax Bills Across Sweet Home, Oregon
Property tax bills in Sweet Home, Linn County, Oregon, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is usually a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the tax bill. In Sweet Home, the median home price is $303,765, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $1,469, while those in the 75th percentile face bills of approximately $3,574. At the higher end, the 90th percentile tax bill reaches up to $4,649. These figures highlight the variability in property tax obligations, which can significantly impact household finances. Compared to the national median property tax rate of 0.99%, Sweet Home's property tax rates reflect a diverse range of financial responsibilities for homeowners, emphasizing the importance of understanding local tax calculations and their implications.
Average Sweet Home Tax Bill
$2,454
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Sweet Home, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97386 | $444 | $1,469 | $2,454 | $3,574 | $4,649 |
Source: Ownwell