Newberg, Oregon Property Taxes
The median property tax rate in Newberg, OR is 0.79%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $456,102 in Newberg, the typical annual property tax bill amounts to $3,675, significantly exceeding the national median of $2,690. Property taxes in Newberg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Newberg'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 Newberg 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
Newberg, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$3,603
$3,344
Ownwell’s Newberg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newberg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newberg 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 Newberg, Oregon
Property taxes in Newberg, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newberg is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Newberg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newberg 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 Newberg's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97132 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Newberg provides valuable insights into the varying tax landscape across Yamhill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newberg Tax Rate
0.79%
Average Yamhill County Tax Rate
0.74%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | 0.52% | 0.66% | 0.79% | 0.86% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Newberg, Oregon
In Newberg, 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 Yamhill 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 Newberg, 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 Newberg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97132 has the highest and lowest median tax bills, both at $3,675, compared to the national median property tax rate of 0.99%.
Average Newberg Assessed Value
$456,102
Average Yamhill County Assessed Value
$432,001
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | $186,238 | $371,531 | $456,102 | $602,102 | $843,410 |
Source: Ownwell
Property Tax Bills Across Newberg, Oregon
In Newberg, Yamhill County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in the area is $456,102, and property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Newberg can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,780, while it rises to $4,717 at the 75th percentile. The tax bill at the 90th percentile reaches $6,086. The highest and lowest median tax bills in the area both stand at $3,675, indicating a relatively consistent property tax rate within the zip code 97132. Compared to the national median property tax rate of 0.99%, Newberg's property taxes can be considered moderate, impacting homeowners' financial planning and budgeting.
Average Newberg Tax Bill
$3,675
Average Yamhill County Tax Bill
$3,196
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Newberg, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97132 | $1,109 | $2,780 | $3,675 | $4,717 | $6,086 |
Source: Ownwell