Example of Yamhill County Property Tax Calculation
Yamhill County property taxes are calculated by multiplying the assessed value of a property by the applicable tax rate. For example, if a property in Yamhill County has an assessed value of $200,000 and the tax rate is 1.5%, the property tax would be $3,000 per year.
To calculate the assessed value of a property in Yamhill County, the county assessor determines the market value of the property and then applies an assessment ratio of 50%. This means that the assessed value of a property is half of its market value.
Once the assessed value is determined, the applicable tax rate is applied to calculate the property tax. The tax rate in Yamhill County varies depending on the location and services provided in the area.
Overall, the Yamhill County property tax calculation is straightforward and based on the assessed value and applicable tax rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Yamhill County Property Tax Rates
The Yamhill County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $1.61 |
| County Road | $0.53 |
| County Library | $0.21 |
| County Transfer Station | $0.12 |
| County Park | $0.08 |
| County Fair | $0.03 |
These rates are applicable to all properties within Yamhill County and are subject to change without prior notice. Property owners are advised to consult with a tax professional for any inquiries and updates regarding their tax obligations.
Who sets property tax rates in Yamhill County ?
Who sets property tax rates in Yamhill County?
The Yamhill County Board of Commissioners is responsible for setting property tax rates for the county.
When are property tax rates set in Yamhill County?
The property tax rates are set annually before October 25th. The rates are based on the county's budget and the amount of revenue needed to provide services to the community.
How are property tax rates determined in Yamhill County?
The Yamhill County Board of Commissioners sets property tax rates by calculating the amount of revenue needed to fund the county's services and dividing it by the total value of all taxable property in the county. This results in a tax rate per $1,000 of assessed value. The Oregon Department of Revenue is responsible for assessing the value of all taxable property in the county.
What is the current property tax rate in Yamhill County?
The current property tax rate in Yamhill County for the 2021-2022 fiscal year is $1.9677 per $1,000 of assessed value.
How are property taxes used in Yamhill County?
Property taxes are the primary source of funding for essential services in Yamhill County, including public safety, roads and bridges, public health, and social services. Property taxes are also used to fund local schools and community colleges.
Homestead exemptions in Yamhill County ?
To help homeowners in Yamhill County, Oregon navigate the complex world of Homestead exemptions and deductions, a comprehensive table has been created. The table includes all county-specific exemptions and deductions for those eligible. Here are the columns and their explanations:
Table Columns
-
Exemption: This column lists all the available Homestead exemptions and deductions for Yamhill County residents.
-
Eligibility: This column explains what a homeowner must do to qualify for each exemption or deduction listed.
-
Amount: In this column, the exact amount of savings a homeowner can expect to receive from each exemption or deduction is provided.
-
Notes: The final column includes additional information that may be helpful to homeowners, such as limitations or deadlines.
Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Applies to primary residence | Up to $50,000 | Capped at 3% annual increase |
| Senior Citizen Deferral | Age 62+ with household income less than $50,000 | Defers taxes until property is sold or owner passes away | Interest accrues at 6% per year |
| Disabled Citizen Deferral | Certified by Social Security Administration | Defers taxes until property is sold or owner passes away | Interest accrues at 6% per year |
| Veterans' Exemption | Certified by VA as 100% disabled or receiving pension for service-related injury | Up to $22,080 | For primary residence only |
| Widow/Widower Exemption | Surviving spouse of eligible veteran or public safety officer killed in the line of duty | Up to $225,000 | For primary residence only, may be transferred to new residence |
| Historic Property Exemption | Owner of property listed on National Register of Historic Places | Up to 100% exemption | Must apply for exemption every year |
| Farmland Exemption | Owner of farmland of 6 acres or more | Up to 100% exemption | Must use land for agriculture or related activities |
By utilizing these available exemptions and deductions, Yamhill County homeowners can potentially save thousands of dollars on their property taxes. It's important to note that some exemptions require annual reapplication or have limitations, so homeowners should carefully review the eligibility requirements and notes before applying.
When is Yamhill County Property Tax due ?
Yamhill County Property Tax is typically due on November 15th of each year. Property owners can use various methods to pay their property tax, including:
-
Online Payment: Property owners can pay their property tax online by visiting the Yamhill County Tax Collector's website and following the instructions for online payment.
-
Mail-In Payment: Property owners can also mail their payments to the Yamhill County Tax Collector's office. The address for mail-in payment can be found on the tax statement.
-
In-Person Payment: Property owners can visit the Yamhill County Tax Collector's office and make payments in person during regular business hours.
It is important to note that if property owners do not pay their property tax by the due date, they may be subject to penalties and interest charges. Therefore, it is recommended that they pay their property tax on time to avoid any additional charges.
If you have more questions - contact your local tax collector.
How is Yamhill County Property Tax penalty calculated ?
Yamhill County calculates property tax penalties based on a specific formula. The penalty is applied to any property tax payments that are not made by the due date, which is typically November 15th of each year. Here is an example of how the penalty is calculated:
Let's say that John owns a property in Yamhill County and his property tax bill is due on November 15th. The total amount of his tax bill is $2,000. John fails to make his payment by the due date and incurs a penalty. The penalty is calculated as follows:
- First $500 of taxes due: No penalty
- Next $1,500 of taxes due: 5% penalty
- Taxes due over $2,000: 10% penalty
Using this formula, John's penalty for not paying his taxes on time would be:
- $0 for the first $500 of taxes due
- $75 (5% of $1,500) for the next $1,500 of taxes due
- $0 for any taxes due over $2,000
Adding up these penalties, John would owe an additional $75 in penalties on top of his original $2,000 tax bill. This would bring his total amount due to $2,075.
It's important to note that these penalties are applied based on the original tax bill amount, not the amount remaining unpaid after the due date. So if John had made a partial payment of $1,000 on his tax bill, but failed to pay the remaining $1,000 by the due date, he would still be subject to the full penalty based on the original $2,000 tax bill amount.
Overall, it's important for property owners in Yamhill County to make their property tax payments on time to avoid any unnecessary penalties.
We recommend contacting the Yamhill County Tax Office or a local tax professional for the most up-to-date and accurate information.