Florence, Oregon Property Taxes
The median property tax rate in Florence, OR is 0.67%, which is significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $338,686 in Florence, the typical annual property tax bill is $2,231, falling below the national median of $2,690. Property taxes in Florence are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Florence's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Florence or investing in real estate in the area, familiarizing yourself with the local property tax system will be advantageous for both homeowners and investors.
Last Updated June 14, 2024
Florence, 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 Florence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florence 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 Florence, Oregon
Property taxes in Florence, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Florence is 0.67%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Florence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Florence 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 Florence's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97439 zip code has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Florence 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 Florence Tax Rate
0.67%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florence, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97439 | 0.48% | 0.57% | 0.67% | 0.77% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Florence, Oregon
In Florence, 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. Assessment notices in Florence 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. Florence's median home price is $338,686, with tax bills ranging from $1,279 at the 25th percentile to $4,359 at the 90th percentile. The highest and lowest median tax bills are both $2,231 in zip code 97439. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Florence Assessed Value
$338,686
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 Florence, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97439 | $73,458 | $183,092 | $338,686 | $475,560 | $636,392 |
Source: Ownwell
Property Tax Bills Across Florence, Oregon
In Florence, Lane County, OR, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the county assessor and is typically a percentage of the market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Florence, the median home price is $338,686, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $1,279, while at the 75th percentile, it rises to $3,132. At the 90th percentile, homeowners can expect to pay around $4,359. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Homeowners in Florence need to be aware of these factors to manage their finances effectively.
Average Florence Tax Bill
$2,231
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Florence, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97439 | $527 | $1,279 | $2,231 | $3,132 | $4,359 |
Source: Ownwell