Culp Creek, Oregon Property Taxes
The median property tax rate in Culp Creek, OR is 2.45%, considerably higher than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Culp Creek, the typical annual property tax bill reaches $94, which is significantly lower than the national median of $2,690. Property taxes in Culp Creek are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Culp Creek'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 Culp Creek 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
Culp Creek, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Culp Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culp Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culp Creek 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 Culp Creek, Oregon
Property taxes in Culp Creek, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culp Creek is 2.45%, significantly higher than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Culp Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culp Creek 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 Culp Creek's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97434 zip code has the highest median property tax rate of 2.45%, while the same zip code also has the lowest median tax rate of 2.45%. Understanding how these cities compare with Culp Creek provides valuable insights into the varying tax landscape across Lane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culp Creek Tax Rate
2.45%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culp Creek, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97434 | 0.67% | 1.34% | 2.45% | 3.56% | 4.23% |
Source: Ownwell
Property Tax Assessment Values Across Culp Creek, Oregon
In Culp Creek, 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 Lane 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 Culp Creek, 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 Culp Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the 25th percentile of tax bills is $59, while the 75th percentile is $130, showing a range of potential tax obligations.
Average Culp Creek Assessed Value
$36,170
Average Lane County Assessed Value
$368,888
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culp Creek, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97434 | $7,632 | $18,334 | $36,170 | $54,006 | $64,708 |
Source: Ownwell
Property Tax Bills Across Culp Creek, Oregon
In Culp Creek, located in Lane County, OR, property tax bills are calculated based on the assessed value of the property, which may differ from its market value. The assessed value is determined by the local assessor's office and takes into account factors such as property size, location, and any improvements made to the property. Homeowners in Culp Creek can expect their property tax bills to vary, with the 25th percentile at $59, the 75th percentile at $130, and the 90th percentile at $151. These figures show a range in tax bills that reflect differences in property values and characteristics within the area. Compared to the national median property tax rate of 0.99%, the property tax rates in Culp Creek are relatively modest, providing some financial relief to homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Culp Creek Tax Bill
$94
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Culp Creek, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97434 | $37 | $59 | $94 | $130 | $151 |
Source: Ownwell