Lincoln City, Oregon Property Taxes
The median property tax rate in Lincoln City, OR is 0.89%, slightly lower than the national median of 0.99% but higher than Oregon's state median of 0.86%. With the median home value in Lincoln City at $403,280, the typical annual property tax bill reaches $3,498, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lincoln City'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 Lincoln City or another part of the area, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincoln City, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$3,589
Ownwell’s Lincoln City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln City 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 Lincoln City, Oregon
Property taxes in Lincoln City, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln City is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Lincoln City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln City 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 Lincoln City's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97367 zip code has both the highest and lowest median property tax rate of 0.89%. Understanding how these cities compare with Lincoln City provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln City Tax Rate
0.89%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97367 | 0.65% | 0.75% | 0.89% | 1.02% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln City, Oregon
In Lincoln City, 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 Lincoln County Appraisal District 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 Lincoln City, 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. The median home price in Lincoln City is $403,280, with tax bills ranging from $2,323 at the 25th percentile to $7,499 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lincoln City Assessed Value
$403,280
Average Lincoln County Assessed Value
$341,090
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincoln City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97367 | $152,272 | $276,480 | $403,280 | $578,015 | $769,324 |
Source: Ownwell
Property Tax Bills Across Lincoln City, Oregon
In Lincoln City, OR, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the market value, which can fluctuate based on real estate trends. For Lincoln City, the median home price stands at $403,280. Property tax bills vary significantly, with the 25th percentile at $2,323 and the 75th percentile reaching $5,313. The 90th percentile tax bill can go as high as $7,499. These variations depend on factors like property location, size, and improvements. Homeowners in the 97367 zip code, for instance, face the highest median tax bill at $3,498. This is notably higher than the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing their annual expenses, potentially influencing decisions on buying, selling, or renovating properties. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Lincoln City Tax Bill
$3,498
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97367 | $1,227 | $2,323 | $3,498 | $5,313 | $7,499 |
Source: Ownwell