Rickreall, Oregon Property Taxes
The median property tax rate in Rickreall, OR is 0.64%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $127,395 in Rickreall, the typical annual property tax bill is approximately $945, significantly below the national median of $2,690. Property taxes in Rickreall are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Rickreall'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 Rickreall 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
Rickreall, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Rickreall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rickreall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rickreall 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 Rickreall, Oregon
Property taxes in Rickreall, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rickreall is 0.64%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Rickreall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rickreall 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 Rickreall's effective property tax rate to other areas in Oregon and the national median. For comparison, the 97371 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Rickreall provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rickreall Tax Rate
0.64%
Average Polk County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rickreall, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97371 | 0.18% | 0.38% | 0.64% | 0.85% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Rickreall, Oregon
In Rickreall, 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 Polk 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 Rickreall, 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 Rickreall 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 is 97371, both at $945.
Average Rickreall Assessed Value
$127,395
Average Polk County Assessed Value
$397,555
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rickreall, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97371 | $28,668 | $63,938 | $127,395 | $402,262 | $644,084 |
Source: Ownwell
Property Tax Bills Across Rickreall, Oregon
In Rickreall, Polk County, OR, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by county assessors who evaluate the property's market value and apply an assessment ratio. Factors such as property size, location, and improvements can influence this assessed value. Rickreall's median home price is $127,395, which is significantly lower than the national average, resulting in relatively lower tax bills. Homeowners in Rickreall can expect property tax bills that vary widely. At the 25th percentile, tax bills are around $404, while those at the 75th percentile can reach up to $1,792. The highest tax bills, at the 90th percentile, can be as much as $3,077. The median tax bill in Rickreall is $945, which is under the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and budget accordingly.
Average Rickreall Tax Bill
$945
Average Polk County Tax Bill
$3,175
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Rickreall, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97371 | $168 | $404 | $945 | $1,792 | $3,077 |
Source: Ownwell