Bay City, Oregon Property Taxes
The median property tax rate in Bay City, OR is 0.57%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Bay City at $320,910, the typical annual property tax bill reaches $1,874, well below the national median of $2,690. Property taxes in Bay City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bay City'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 Bay City or another part of Tillamook County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bay City, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,829
$1,697
Ownwell’s Bay City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bay City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bay City 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 Bay City, Oregon
Property taxes in Bay City, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bay City is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Bay City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bay City 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 Bay City's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97107 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Bay City provides valuable insights into the varying tax landscape across Tillamook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bay City Tax Rate
0.57%
Average Tillamook County Tax Rate
0.57%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bay City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97107 | 0.43% | 0.49% | 0.57% | 0.67% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Bay City, Oregon
In Bay City, 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 Tillamook 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 Bay City, 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 Bay City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 97107, with a tax bill of $1,874, while the lowest median tax bill is also in the same zip code at $1,874.
Average Bay City Assessed Value
$320,910
Average Tillamook County Assessed Value
$397,740
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bay City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97107 | $83,660 | $180,090 | $320,910 | $476,268 | $659,188 |
Source: Ownwell
Property Tax Bills Across Bay City, Oregon
Property tax bills in Bay City, Tillamook County, OR, are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $320,910, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,434, while those in the 75th percentile might see bills as high as $2,676. At the 90th percentile, tax bills can reach up to $3,466. These figures highlight the variability in property tax obligations, influenced by factors such as property location, size, and improvements. Comparatively, the national median property tax rate stands at 0.99%, but local rates can differ, affecting overall affordability. For residents, understanding these factors is crucial, as property taxes contribute significantly to annual homeownership costs, impacting budgeting and financial planning.
Average Bay City Tax Bill
$1,874
Average Tillamook County Tax Bill
$2,473
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Bay City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97107 | $962 | $1,434 | $1,874 | $2,676 | $3,466 |
Source: Ownwell