Seneca, Oregon Property Taxes
The median property tax rate in Seneca, OR is 0.59%, notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $99,820 in Seneca, the typical annual property tax bill amounts to $576, significantly below the national median of $2,690. Property taxes in Seneca are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Seneca's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Seneca or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seneca, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$589
Ownwell’s Seneca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seneca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seneca 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 Seneca, Oregon
Property taxes in Seneca, Oregon, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Seneca is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Seneca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seneca 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 Seneca's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97873 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Seneca provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seneca Tax Rate
0.59%
Average Grant County Tax Rate
0.75%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seneca, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97873 | 0.35% | 0.46% | 0.59% | 0.83% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Seneca, Oregon
In Seneca, 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 Grant County Assessor's Office 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 Seneca, 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 Seneca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Seneca is $99,820, with the highest and lowest median tax bills both recorded at $576 in the 97873 zip code.
Average Seneca Assessed Value
$99,820
Average Grant County Assessed Value
$184,015
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seneca, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97873 | $38,236 | $63,020 | $99,820 | $135,930 | $258,908 |
Source: Ownwell
Property Tax Bills Across Seneca, Oregon
In Seneca, located in Grant County, OR, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors considered in this calculation include the property's market value, any applicable exemptions, and the local tax rate. For homeowners in Seneca, the median home price is $99,820, and tax bills can vary significantly. At the 25th percentile, the tax bill is $334, while at the 75th percentile, it rises to $986. The 90th percentile tax bill reaches $1,636. These variations highlight the impact of property values and local tax rates on the overall tax burden. Compared to the national median property tax rate of 0.99%, Seneca's property taxes can be seen as relatively moderate. Homeowners must budget for these annual expenses, which directly affect their financial planning and the affordability of homeownership in the area.
Average Seneca Tax Bill
$576
Average Grant County Tax Bill
$1,399
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Seneca, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97873 | $223 | $334 | $576 | $986 | $1,636 |
Source: Ownwell