Klamath Falls, Oregon Property Taxes
The median property tax rate in Klamath Falls, OR is 0.75%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Klamath Falls at $213,520, the typical annual property tax bill is $1,564, significantly less than the national median of $2,690. Property taxes in Klamath Falls 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 Klamath Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Klamath Falls 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
Klamath Falls, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,601
Ownwell’s Klamath Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Klamath Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Klamath Falls 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 Klamath Falls, Oregon
Property taxes in Klamath Falls, Oregon, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Klamath Falls is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Klamath Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Klamath Falls 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 Klamath Falls' effective property tax rate to other areas in Klamath County and the national median. For comparison, the zip code 97624 has the highest median property tax rate of 0.76%, while the zip code 97627 has the lowest median tax rate of 0.65%. Understanding how these areas compare with Klamath Falls 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 Klamath Falls Tax Rate
0.75%
Average Klamath County Tax Rate
0.72%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Klamath Falls, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97601 | 0.43% | 0.55% | 0.73% | 1.11% | 1.59% |
| 97603 | 0.46% | 0.57% | 0.76% | 1.17% | 1.49% |
| 97622 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| 97623 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
| 97624 | 0.39% | 0.53% | 0.76% | 0.78% | 0.79% |
| 97627 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| 97733 | 0.40% | 0.49% | 0.65% | 0.77% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Klamath Falls, Oregon
In Klamath Falls, 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 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 Klamath Falls, 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. For instance, the highest median tax bill in the area is $2,009 in the 97627 zip code, while the lowest is $163 in the 97622 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Klamath Falls Assessed Value
$213,520
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 Klamath Falls, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97601 | $49,490 | $108,130 | $214,840 | $362,460 | $508,184 |
| 97603 | $29,614 | $104,330 | $214,070 | $318,358 | $453,982 |
| 97622 | $24,460 | $24,460 | $24,460 | $24,460 | $24,460 |
| 97623 | $35,230 | $35,230 | $35,230 | $35,230 | $35,230 |
| 97624 | $49,892 | $54,500 | $62,180 | $75,733 | $83,865 |
| 97627 | $310,720 | $310,720 | $310,720 | $310,720 | $310,720 |
| 97733 | $95,820 | $134,880 | $199,980 | $219,070 | $230,524 |
Source: Ownwell
Property Tax Bills Across Klamath Falls, Oregon
In Klamath Falls, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Klamath Falls stands at $213,520, influencing the overall tax amount homeowners are required to pay. Factors such as property size, location, and any improvements can affect the assessed value, thereby impacting the tax bill. For example, property tax bills in Klamath Falls range significantly, with the 25th percentile at $914 and the 75th percentile at $2,505. The 90th percentile sees tax bills as high as $3,561. The highest median tax bill in the area is $2,009 in the 97627 zip code, while the lowest is $163 in the 97622 zip code. These variations show how different factors contribute to the final tax bill, affecting homeowners differently across the region. Comparing these figures to the national median property tax rate of 0.99%, it is evident that local assessments and tax rates play a crucial role in determining property tax obligations.
Average Klamath Falls Tax Bill
$1,564
Average Klamath County Tax Bill
$1,333
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Klamath Falls, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97601 | $469 | $897 | $1,531 | $2,621 | $4,067 |
| 97603 | $278 | $954 | $1,600 | $2,445 | $3,276 |
| 97622 | $163 | $163 | $163 | $163 | $163 |
| 97623 | $245 | $245 | $245 | $245 | $245 |
| 97624 | $225 | $281 | $374 | $528 | $620 |
| 97627 | $2,009 | $2,009 | $2,009 | $2,009 | $2,009 |
| 97733 | $499 | $563 | $670 | $1,387 | $1,817 |
Source: Ownwell