Neotsu, Oregon Property Taxes
The median property tax rate in Neotsu, OR is 0.66%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Neotsu at $475,480, the typical annual property tax bill amounts to $3,186, surpassing the national median of $2,690. Property taxes in Neotsu 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 Neotsu'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 Neotsu or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Neotsu, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$3,138
Ownwell’s Neotsu Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neotsu with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neotsu 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 Lincoln County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Neotsu, Oregon
Property taxes in Neotsu, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neotsu is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Neotsu set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neotsu 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 Neotsu's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97364 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Neotsu 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 Neotsu Tax Rate
0.66%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neotsu, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97364 | 0.53% | 0.59% | 0.66% | 0.74% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Neotsu, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Neotsu, Oregon. 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 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 Neotsu, 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 Neotsu helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Neotsu, the zip code 97364 has the highest and lowest median tax bill, both at $3,186.
Average Neotsu Assessed Value
$475,480
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 Neotsu, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97364 | $202,458 | $314,070 | $475,480 | $692,400 | $883,294 |
Source: Ownwell
Property Tax Bills Across Neotsu, Oregon
In Neotsu, located in Lincoln County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically lower than the market value and serves as the basis for the property tax calculation. Homeowners in Neotsu face varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,933, while the 75th percentile reaches approximately $4,582. At the higher end, the 90th percentile tax bill can be as much as $5,862. Factors influencing the tax bill include property location, size, and improvements, along with county-specific tax rates. Compared to the national median property tax rate of 0.99%, Neotsu homeowners may find their rates competitive, although individual tax burdens can vary widely. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Neotsu Tax Bill
$3,186
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Neotsu, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97364 | $1,314 | $1,933 | $3,186 | $4,582 | $5,862 |
Source: Ownwell