Tillamook, Oregon Property Taxes
The median property tax rate in Tillamook, OR is 0.57%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $362,135, the typical annual property tax bill in Tillamook reaches $2,116, which is below the national median of $2,690. Property taxes in Tillamook are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Tillamook'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 Tillamook or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tillamook, 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 Tillamook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tillamook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tillamook 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 Tillamook, Oregon
Property taxes in Tillamook, Oregon, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Tillamook is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Tillamook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tillamook 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 Tillamook's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97141 has both the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Tillamook 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 Tillamook 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 Tillamook, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97141 | 0.44% | 0.50% | 0.57% | 0.68% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Tillamook, Oregon
In Tillamook, 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 county 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 Tillamook, 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 Tillamook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tillamook is $362,135, with the 25th percentile tax bill at $1,495 and the 75th percentile at $3,241. The highest and lowest median tax bill both stand at $2,116 in zip code 97141.
Average Tillamook Assessed Value
$362,135
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 Tillamook, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97141 | $97,160 | $242,205 | $362,135 | $553,065 | $794,142 |
Source: Ownwell
Property Tax Bills Across Tillamook, Oregon
In Tillamook, OR, property tax bills are calculated based on the assessed value of a home, which differs from its market value. The assessed value is determined by the local tax assessor and is typically lower than the market value. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Tillamook, the median home price is $362,135. Property tax bills can vary significantly, with the 25th percentile bill at $1,495, the 75th percentile at $3,241, and the 90th percentile reaching $4,904. These taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Tillamook’s tax bills reflect the specific needs and values of the community. Homeowners should be aware of these factors as they can significantly impact annual expenses and overall financial planning.
Average Tillamook Tax Bill
$2,116
Average Tillamook County Tax Bill
$2,473
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Tillamook, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97141 | $964 | $1,495 | $2,116 | $3,241 | $4,904 |
Source: Ownwell