Lostine, Oregon Property Taxes
The median property tax rate in Lostine, OR is 0.44%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Lostine at $335,625, the typical annual property tax bill is $1,461, well below the national median of $2,690. Property taxes in Lostine 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 Lostine'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 Lostine 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
Lostine, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,477
$1,370
Ownwell’s Lostine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lostine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lostine 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 Lostine, Oregon
Property taxes in Lostine, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lostine is 0.44%, which is significantly lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Lostine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lostine 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 Lostine's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97857 has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Lostine provides valuable insights into the varying tax landscape across Wallowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lostine Tax Rate
0.44%
Average Wallowa County Tax Rate
0.48%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lostine, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97857 | 0.26% | 0.35% | 0.44% | 0.53% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lostine, Oregon
In Lostine, 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 Wallowa 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 Lostine, 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. The median home price in Lostine is $335,625, with tax bills ranging from $798 at the 25th percentile to $3,444 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,461, found in the 97857 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lostine Assessed Value
$335,625
Average Wallowa County Assessed Value
$375,080
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lostine, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97857 | $86,723 | $189,760 | $335,625 | $590,152 | $784,083 |
Source: Ownwell
Property Tax Bills Across Lostine, Oregon
In Lostine, located in Wallowa County, Oregon, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Lostine, the median home price is $335,625. Property tax bills can vary significantly, with the 25th percentile tax bill at $798 and the 75th percentile tax bill at $2,320. At the higher end, the 90th percentile tax bill reaches $3,444. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Lostine's property tax bills reflect the local economic conditions and valuation practices. These tax bills impact homeowners by affecting their annual housing costs and potentially influencing their decisions on property investments and improvements.
Average Lostine Tax Bill
$1,461
Average Wallowa County Tax Bill
$1,773
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Lostine, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97857 | $351 | $798 | $1,461 | $2,320 | $3,444 |
Source: Ownwell