Yamhill, Oregon Property Taxes
The median property tax rate in Yamhill, OR is 0.61%, notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Yamhill at $404,648, the typical annual property tax bill amounts to $2,267, which is below the national median of $2,690. Property taxes in Yamhill are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Yamhill'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 Yamhill or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yamhill, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$2,468
Ownwell’s Yamhill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yamhill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yamhill 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 Yamhill, Oregon
Property taxes in Yamhill, Oregon, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Yamhill is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Yamhill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yamhill 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 Yamhill's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97148 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Yamhill 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 Yamhill Tax Rate
0.61%
Average Yamhill County Tax Rate
0.74%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yamhill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97148 | 0.28% | 0.44% | 0.61% | 0.70% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Yamhill, Oregon
In Yamhill, 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 Yamhill, 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 Yamhill 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 97148, with a median tax bill of $2,267.
Average Yamhill Assessed Value
$404,648
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 Yamhill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97148 | $78,745 | $236,847 | $404,648 | $579,827 | $719,106 |
Source: Ownwell
Property Tax Bills Across Yamhill, Oregon
In Yamhill, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, any improvements or renovations, and comparable property sales in the area. Homeowners in Yamhill experience varying tax bills depending on their property's value. For instance, the median home price in Yamhill is $404,648. Tax bills in the 25th percentile are around $975, while those in the 75th percentile can reach $3,584. At the 90th percentile, tax bills can be as high as $4,447. When compared to the national median property tax rate of 0.99%, Yamhill's tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning. The highest and lowest median tax bills in the area are both $2,267, indicating a relatively consistent tax burden across different zip codes.
Average Yamhill Tax Bill
$2,267
Average Yamhill County Tax Bill
$3,196
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Yamhill, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97148 | $273 | $975 | $2,267 | $3,584 | $4,447 |
Source: Ownwell