Jefferson, Oregon Property Taxes
The median property tax rate in Jefferson, OR is 0.64%, 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 Jefferson at $360,620, the typical annual property tax bill comes to $2,368, falling below the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jefferson'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 Jefferson 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
Jefferson, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Oregon
Property taxes in Jefferson, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 0.92%, which is higher than the Oregon state median of 0.90% but still below the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97352 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.64%
Average Marion County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97352 | 0.46% | 0.56% | 0.64% | 0.70% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Oregon
In Jefferson, 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 Marion 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 97352, with a median tax bill of $2,368.
Average Jefferson Assessed Value
$360,620
Average Marion County Assessed Value
$390,390
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97352 | $104,880 | $262,085 | $360,620 | $489,970 | $677,185 |
Source: Ownwell
Property Tax Bills Across Jefferson, Oregon
Property tax bills in Jefferson, located in Marion County, Oregon, are determined based on the assessed value of a property, which may differ from its market value. The assessed value is typically a percentage of the market value, adjusted annually to reflect changes in the housing market and local economic conditions. In Jefferson, the median home price is $360,620, which serves as a benchmark for calculating property taxes. Homeowners in Jefferson can expect tax bills that vary widely depending on the specific characteristics and location of their property. For instance, the tax bill at the 25th percentile is $1,694, while at the 75th percentile, it rises to $3,116. The top 10% of property tax bills reach up to $4,141, reflecting the higher-end properties in the area. These property taxes significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Jefferson's property taxes are reflective of the local economic landscape and housing market trends.
Average Jefferson Tax Bill
$2,368
Average Marion County Tax Bill
$3,229
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97352 | $784 | $1,694 | $2,368 | $3,116 | $4,141 |
Source: Ownwell