Fossil, Oregon Property Taxes
The median property tax rate in Fossil, OR is 1.13%, considerably higher than both the national median of 0.99% and Oregon's state median of 0.86%. With the median home value in Fossil at $148,145, the typical annual property tax bill reaches $1,603, which is below the national median of $2,690. Property taxes in Fossil are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fossil'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 Fossil or another part of Wheeler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fossil, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,674
$1,553
Ownwell’s Fossil Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fossil with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fossil 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 Fossil, Oregon
Property taxes in Fossil, Oregon, play a crucial role in funding vital local services, including public schools, road maintenance, and emergency services. The median tax rate in Fossil is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within Fossil set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fossil 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 Fossil's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97830 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these figures compare with Fossil provides valuable insights into the varying tax landscape across Wheeler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fossil Tax Rate
1.13%
Average Wheeler County Tax Rate
0.87%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fossil, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97830 | 0.34% | 0.76% | 1.13% | 1.35% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Fossil, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fossil, Oregon. 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 Wheeler County Appraisal District 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 Fossil, 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. For example, the median home price in Fossil is $148,145, with tax bills ranging from $1,037 at the 25th percentile to $4,139 at the 90th percentile. Notably, the zip code 97830 has both the highest and lowest median tax bill of $1,603. 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 Fossil Assessed Value
$148,145
Average Wheeler County Assessed Value
$186,970
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fossil, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97830 | $63,256 | $96,320 | $148,145 | $295,670 | $662,771 |
Source: Ownwell
Property Tax Bills Across Fossil, Oregon
In Fossil, located in Wheeler County, OR, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions play a role in the assessed value. For homeowners in Fossil, the median home price stands at $148,145. Property tax bills vary significantly, with the 25th percentile at $1,037 and the 75th percentile reaching $2,451. The 90th percentile of tax bills can go as high as $4,139. The median tax bill in the area is $1,603, which is above the national median property tax rate of 0.99%. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Homeowners in Fossil must budget for these taxes as part of their annual expenses, impacting their overall financial planning and homeownership costs.
Average Fossil Tax Bill
$1,603
Average Wheeler County Tax Bill
$1,745
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Fossil, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97830 | $619 | $1,037 | $1,603 | $2,451 | $4,139 |
Source: Ownwell