Hermiston, Oregon Property Taxes
The median property tax rate in Hermiston, OR is 0.47%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Hermiston at $305,660, the typical annual property tax bill comes to $1,317, which is well below the national median of $2,690. Property taxes in Hermiston are calculated based on the assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hermiston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hermiston 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
Hermiston, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,437
Ownwell’s Hermiston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hermiston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hermiston 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 Hermiston, Oregon
Property taxes in Hermiston, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hermiston is 0.47%, which is below both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Hermiston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hermiston 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 Hermiston's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97838 has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with Hermiston provides valuable insights into the varying tax landscape across Morrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hermiston Tax Rate
0.47%
Average Morrow County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hermiston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97838 | 0.17% | 0.25% | 0.47% | 0.55% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Hermiston, Oregon
In Hermiston, Oregon, understanding the difference between "market value" and "assessed value" is essential 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 Morrow 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 Hermiston, 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. Hermiston's median home price is $305,660, with tax bills ranging from $607 at the 25th percentile to $4,094 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hermiston Assessed Value
$305,660
Average Morrow County Assessed Value
$224,380
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hermiston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97838 | $102,400 | $126,705 | $305,660 | $571,080 | $2,337,596 |
Source: Ownwell
Property Tax Bills Across Hermiston, Oregon
In Hermiston, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is often a percentage of the home's market value. For instance, with a median home price of $305,660, the tax bill can vary significantly. Homeowners in Hermiston might see tax bills ranging from $607 at the 25th percentile to $2,763 at the 75th percentile, and even up to $4,094 at the 90th percentile, depending on various factors such as property size, location, and improvements. The county of Morrow, where Hermiston is located, has a consistent median tax bill of $1,317 across different zip codes. This figure is relatively moderate when compared to the national median property tax rate of 0.99%. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hermiston Tax Bill
$1,317
Average Morrow County Tax Bill
$1,844
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Hermiston, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97838 | $359 | $607 | $1,317 | $2,763 | $4,094 |
Source: Ownwell