Ione, Oregon Property Taxes
The median property tax rate in Ione, OR is 0.95%, slightly below the national median of 0.99% but higher than the Oregon state median of 0.86%. With the median home value in Ione at $222,441, the typical annual property tax bill amounts to $2,166, which is lower than the national median of $2,690. Property taxes in Ione are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ione'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 Ione 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
Ione, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,113
Ownwell’s Ione Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ione with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ione 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 Ione, Oregon
Property taxes in Ione, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ione is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Ione set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ione 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 Ione's effective property tax rate to other areas in Oregon and the national median. For comparison, the 97843 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Ione 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 Ione Tax Rate
0.95%
Average Morrow County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ione, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97843 | 0.50% | 0.71% | 0.95% | 1.28% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Ione, Oregon
In Ione, 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 Morrow County Appraisal District 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 Ione, 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 Ione helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,166, found in zip code 97843.
Average Ione Assessed Value
$222,441
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 Ione, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97843 | $41,558 | $110,740 | $222,441 | $436,370 | $718,202 |
Source: Ownwell
Property Tax Bills Across Ione, Oregon
Property tax bills in Ione, located in Morrow County, OR, are determined based on the assessed value of a property, which is influenced by the market value and local tax rates. The median home price in Ione is $222,441, and the property tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Ione, property tax bills can vary significantly, with the 25th percentile tax bill at $1,076 and the 75th percentile reaching $3,424. The highest median tax bill recorded in the area is $2,166, which is relatively lower compared to the national median property tax rate of 0.99%. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. These property taxes are crucial for funding local services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Ione.
Average Ione Tax Bill
$2,166
Average Morrow County Tax Bill
$1,844
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Ione, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97843 | $324 | $1,076 | $2,166 | $3,424 | $5,083 |
Source: Ownwell