Scotts Mills, Oregon Property Taxes
The median property tax rate in Scotts Mills, OR is 0.50%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $460,120 in Scotts Mills, the typical annual property tax bill amounts to $2,077, which is below the national median of $2,690. Property taxes in Scotts Mills are determined based on the tax assessed value, which usually falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Scotts Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Scotts Mills or another part of Marion County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scotts Mills, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$2,301
$2,135
Ownwell’s Scotts Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scotts Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scotts Mills 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 Scotts Mills, Oregon
Property taxes in Scotts Mills, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scotts Mills is 0.50%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Scotts Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scotts Mills 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 Scotts Mills' effective property tax rate to other counties in Oregon and the national median. For comparison, the 97375 zip code has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Scotts Mills 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 Scotts Mills Tax Rate
0.50%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scotts Mills, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97375 | 0.21% | 0.34% | 0.50% | 0.61% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Scotts Mills, Oregon
In Scotts Mills, 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 Scotts Mills, 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. For example, the highest median tax bill in Scotts Mills is $2,077 in the 97375 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Scotts Mills Assessed Value
$460,120
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 Scotts Mills, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97375 | $92,327 | $268,695 | $460,120 | $709,732 | $973,383 |
Source: Ownwell
Property Tax Bills Across Scotts Mills, Oregon
In Scotts Mills, Marion County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is often lower than the market value and is influenced by factors such as property size, location, and improvements. The tax rate, applied to this assessed value, determines the final tax bill. For homeowners in Scotts Mills, the median home price is $460,120, which helps set a baseline for tax assessments. Homeowners in Scotts Mills can expect a range of property tax bills, with the 25th percentile at $1,204 and the 75th percentile at $3,077. The 90th percentile tax bill can reach up to $4,234. Compared to the national median property tax rate of 0.99%, the tax rates in Scotts Mills reflect the local economic conditions and funding needs for public services. Understanding these factors helps homeowners anticipate their tax liabilities and manage their financial planning effectively.
Average Scotts Mills Tax Bill
$2,077
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Scotts Mills, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97375 | $455 | $1,204 | $2,077 | $3,077 | $4,234 |
Source: Ownwell