Corvallis, Lincoln County, Oregon Property Taxes

Local government entities are responsible for setting property tax rates, and these can vary significantly within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although there are votes and laws involved in setting these rates and budgets, this is the fundamental process.

In Corvallis, located in Benton County, Oregon, the effective property tax rate is a key consideration for homeowners. The median property tax rate in Oregon is 0.97%, which is below the national median rate of 1.02%. This means that, on average, homeowners in Corvallis may pay less in property taxes compared to the national average. When comparing Corvallis to other cities in Oregon, it's important to consider how these rates impact your overall property tax bill. With the national median property tax bill at $2,400, understanding local tax rates can help homeowners make informed decisions about their property investments and potential tax savings.

In Corvallis, located in Lincoln County, OR, property tax bills are primarily determined by the assessed value of a home, which is different from its market value. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For homeowners in Corvallis, the median home price stands at $151,560. Interestingly, the property tax bill for the 25th, 75th, and 90th percentiles is consistently $1,465, which is below the national median property tax bill of $2,400. This suggests that even as home values vary, the tax burden remains relatively stable.

Factors influencing property tax bills include the assessed value, local tax rates, and any applicable exemptions. This can have a significant impact on homeowners, particularly those on a fixed income. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By identifying discrepancies in assessments or unclaimed exemptions, Ownwell can help homeowners potentially reduce their tax bills, ensuring they only pay their fair share.