Salem, Polk County, Oregon Property Taxes
Median Salem, OR effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but higher than the Oregon state median of 0.86%.
Median Salem, OR home value: $461,860
Median annual Salem, OR tax bill: $4,376, $1,976 higher than the national median property tax bill of $2,400.
How are property taxes in Polk County calculated?
Property taxes in Salem, OR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Salem’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Salem, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Salem, Polk County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$4,526
$4,200
Property Tax Rates Across Salem, Polk County, Oregon
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Salem’s effective property tax rate to other cities in Oregon and the median property tax rates in Oregon and the U.S.
In Salem, located in Polk County, the median property tax rate is 0.98%, aligning closely with the highest and lowest rates in the area, both at 0.98%. This rate is slightly below the national median property tax rate of 1.02%, offering some relief to property owners. The median property tax bill in Salem is also reflective of this rate, providing a contrast to the national median of $2400. This makes Salem an attractive location for property owners looking to benefit from relatively lower property taxes, compared to other regions across the country.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Salem Tax Rate
0.98%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Polk County Tax Rate
0.82%
Median Effective Oregon Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Salem, Polk County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97304 | 0.72% | 0.88% | 0.98% | 1.04% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Salem, Polk County, Oregon
When examining property taxes in Salem, Oregon, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Polk County Assessor's Office estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Polk County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Salem.
For example, the median home price in Salem is $461,860, with tax bills ranging significantly across the county. Zip code 97304 has the highest median home price at $461,860.
Property Tax Assessment Values Across Salem, Polk County, Oregon
Source: Ownwell
$127,365
$294,613
$461,860
Median Salem Market Value
$461,860
Median Polk County Market Value
$397,555
Median Oregon Market Value
$438,140
Median United States Market Value
$235,294
Property Tax Assessment Values Across Salem, Polk County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97304 | $277,384 | $382,270 | $461,860 | $547,880 | $649,158 |
Source: Ownwell
Property Tax Bills Across Salem, Polk County, Oregon
In Salem, located in Polk County, Oregon, property tax bills are calculated based on the assessed value of a home, which is typically lower than its market value. The assessed value is determined by the local assessor's office and is influenced by factors such as the property's location, size, and condition. Homeowners in Salem face a median property tax bill of $4,376, which is notably higher than the national median of $2,400. This higher tax bill can significantly impact household budgets.
Ownwell offers a solution for homeowners looking to reduce their property tax burdens. By leveraging expert knowledge of local tax codes and assessment practices, Ownwell identifies opportunities for appealing assessed values and securing exemptions, potentially lowering tax bills. This service is particularly beneficial for those in Salem, where the tax bill at the 90th percentile can reach $6,641. With Ownwell's assistance, homeowners can navigate the complexities of property tax appeals and achieve meaningful savings, easing the financial strain of high property taxes.
Median Salem Tax Bill
$4,376
Median Polk County Tax Bill
$3,175
Median Oregon Tax Bill
$3,628
Median United States Tax Bill
$2,400
Property Tax Bills Across Salem, Polk County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97304 | $2,448 | $3,426 | $4,376 | $5,486 | $6,641 |
Source: Ownwell