Gates, Marion County, Oregon Property Taxes
The median property tax rate in Gates, OR is 0.54%, considerably 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 $262,730, the typical annual property tax bill reaches $1,424, well below the national median of $2,690. Property taxes in Gates 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 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 Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gates, Marion County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,419
$1,317
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, Marion County, 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 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Gates set these rates annually, and they can vary significantly 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 counties in Oregon and the national median. For comparison, the ZIP code 97346 has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Gates provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gates Tax Rate
0.54%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gates, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | 0.21% | 0.42% | 0.54% | 0.65% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Gates, Marion County, 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 Marion County Assessor's Office 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 zip code with the highest and lowest median tax bill in GATES is 97346, both at $1,424.
Property Tax Assessment Values Across Gates, Marion County, Oregon
Source: Ownwell
$168,200
$336,335
$504,470
Average Gates Assessed Value
$262,730
Average Marion County Assessed Value
$390,390
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gates, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | $61,296 | $144,325 | $262,730 | $420,605 | $587,990 |
Source: Ownwell
Property Tax Bills Across Gates, Marion County, Oregon
In Gates, located in Marion County, OR, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is typically lower than the market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in Gates experience a range of property tax bills, with the 25th percentile paying around $675 and the 75th percentile paying approximately $2,154 annually. For those in the 90th percentile, the tax bill can reach up to $3,123. The median home price in Gates is $262,730, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Gates homeowners face a relatively moderate tax environment. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Gates Tax Bill
$1,424
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Gates, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97346 | $405 | $675 | $1,424 | $2,154 | $3,123 |
Source: Ownwell