Summer Lake, Oregon Property Taxes
The median property tax rate in Summer Lake, OR is 0.60%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Summer Lake, the typical annual property tax bill reaches $1,103, significantly below the national median of $2,690. Property taxes in Summer Lake are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Summer 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 Summer Lake 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
Summer Lake, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$965
Ownwell’s Summer Lake Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Summer Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summer Lake to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Summer Lake, Oregon
Property taxes in Summer Lake, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Summer Lake is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Summer Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Summer 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 Summer Lake's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97640 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Summer Lake provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Summer Lake Tax Rate
0.60%
Average Lake County Tax Rate
0.80%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Summer Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97640 | 0.17% | 0.27% | 0.60% | 0.74% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Summer Lake, Oregon
In Summer 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 Lake 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 Summer 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 Summer Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $1,103, found in zip code 97640.
Average Summer Lake Assessed Value
$160,865
Average Lake County Assessed Value
$110,290
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Summer Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97640 | $72,906 | $107,975 | $160,865 | $519,502 | $798,291 |
Source: Ownwell
Property Tax Bills Across Summer Lake, Oregon
In Summer Lake, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is influenced by factors such as the market value of the property, improvements made, and any applicable exemptions. Homeowners in Summer Lake experience a range of property tax bills, with the 25th percentile at $684 and the 75th percentile at $1,648, indicating a broad spectrum of tax obligations depending on property specifics. The median home price in Summer Lake is $160,865, and property tax rates are applied to this assessed value to determine the final tax bill. For example, the highest median tax bill in the area is $1,103, which aligns with the national median property tax rate of 0.99%. This variability in tax bills can significantly impact homeowners' annual expenses, making it crucial for property owners to understand how their tax obligations are calculated and what factors might influence any changes in their assessments.
Average Summer Lake Tax Bill
$1,103
Average Lake County Tax Bill
$884
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Summer Lake, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97640 | $426 | $684 | $1,103 | $1,648 | $2,787 |
Source: Ownwell