Sublimity, Marion County, Oregon Property Taxes
The median property tax rate in Sublimity, OR is 0.65%, notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Sublimity at $504,470, the typical annual property tax bill is $3,327, surpassing the national median of $2,690. Property taxes in Sublimity are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sublimity'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 Sublimity 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
Sublimity, Marion County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$3,279
$3,043
Ownwell’s Sublimity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sublimity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sublimity 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 Sublimity, Marion County, Oregon
Property taxes in Sublimity, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sublimity is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Sublimity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sublimity 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 Sublimity's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97385 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Sublimity 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 Sublimity Tax Rate
0.65%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sublimity, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97385 | 0.46% | 0.60% | 0.65% | 0.71% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Sublimity, Marion County, Oregon
In Sublimity, 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 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 Sublimity, 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 Sublimity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sublimity is $3327, and the lowest is also $3327, both in the 97385 zip code.
Property Tax Assessment Values Across Sublimity, Marion County, Oregon
Source: Ownwell
$168,200
$336,335
$504,470
Average Sublimity Assessed Value
$504,470
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 Sublimity, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97385 | $142,102 | $359,532 | $504,470 | $620,998 | $704,765 |
Source: Ownwell
Property Tax Bills Across Sublimity, Marion County, Oregon
In Sublimity, property tax bills are calculated based on the assessed value of a home, which is determined by the Marion County tax assessor’s office. This assessed value is typically a percentage of the property's market value. Homeowners in Sublimity can expect their tax bills to vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is around $2,380, while the 75th percentile tax bill is approximately $3,937. At the 90th percentile, homeowners might see tax bills as high as $4,537. These figures are influenced by various factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Sublimity's property taxes reflect the area's specific economic conditions and property values. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly, ensuring they are prepared for any fluctuations in their property tax bills.
Average Sublimity Tax Bill
$3,327
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Sublimity, Marion County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97385 | $1,325 | $2,380 | $3,327 | $3,937 | $4,537 |
Source: Ownwell