97741 Property Tax Rate

Property owners in ZIP code 97741 (Madras, Oregon) pay a median of $2,465/year in property taxes on homes valued at $308,900. This translates to an effective tax rate of 0.80%, which is 8% above the Oregon state average of 0.74%.

The monthly property tax burden for a median-valued home in 97741 is approximately $205, which factors into escrow payments on mortgages. This ZIP code is located within Jefferson County. This is $530 less than the Oregon average of $2,995/year.

Compared to similar ZIP codes in Oregon, 97741 has lower property taxes. ZIP codes with similar effective rates include 97423 (0.80%) and 97348 (0.80%).

In Madras, property taxes represent approximately 3.5% of the median household income of $69,696, providing context for the relative tax burden on homeowners in this area.

Under Oregon's Measure 50, your assessed value is capped at 3% annual increase, but resets to market value at purchase—expect your tax bill to reflect your buying price in the year following closing. Jefferson County does not offer a statewide homestead exemption; seniors 65+ and disabled homeowners should contact the Jefferson County Assessor within 30 days of purchase to apply for available county relief programs. File a formal appeal with the Jefferson County Assessor within 30 days of receiving your Notice of Assessed Value if the assessed value exceeds comparable recent sales.