Crescent Lake, Oregon Property Taxes
The median property tax rate in Crescent Lake, OR is 0.45%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Crescent Lake at $256,610, the typical annual property tax bill is $1,210, which is well below the national median of $2,690. Property taxes in Crescent Lake are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Crescent Lake'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 Crescent Lake or another part of Klamath County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crescent Lake, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,155
Ownwell’s Crescent Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Crescent Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crescent Lake to provide an estimate of 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 Crescent Lake, Oregon
Property taxes in Crescent Lake, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crescent Lake is 0.45%, lower than both the Oregon state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Crescent Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crescent Lake 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 Crescent Lake's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97733 zip code has the highest median property tax rate of 0.45%, while the 97733 zip code also has the lowest median tax rate of 0.45%. Understanding how these areas compare with Crescent Lake provides valuable insights into the varying tax landscape across Klamath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crescent Lake Tax Rate
0.45%
Average Klamath County Tax Rate
0.72%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crescent Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | 0.23% | 0.32% | 0.45% | 0.82% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Crescent Lake, Oregon
In Crescent Lake, 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 Klamath 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 Crescent Lake, 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 Crescent Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97733 has both the highest and lowest median tax bills, standing at $1,210.
Average Crescent Lake Assessed Value
$256,610
Average Klamath County Assessed Value
$184,440
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crescent Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | $34,515 | $120,808 | $256,610 | $489,825 | $755,055 |
Source: Ownwell
Property Tax Bills Across Crescent Lake, Oregon
In Crescent Lake, located in Klamath County, OR, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value. Homeowners in Crescent Lake can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is around $562, while the 75th percentile reaches up to $2115, and the 90th percentile can go as high as $3236. These property tax bills are influenced by several factors, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local taxing authorities. The median home price in Crescent Lake is $256,610, which affects the overall tax burden. Compared to the national median property tax rate of 0.99%, Crescent Lake's tax rates can significantly impact homeowners' annual expenses. Understanding these components helps homeowners manage their financial planning and anticipate their yearly property tax obligations.
Average Crescent Lake Tax Bill
$1,210
Average Klamath County Tax Bill
$1,333
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Crescent Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | $228 | $562 | $1,210 | $2,115 | $3,236 |
Source: Ownwell