Corvallis, Benton County, Oregon Property Taxes
Median Corvallis, OR effective property tax rate: 1.01%, slightly lower than the national median of 1.02%, but higher than the Oregon state median of 0.86%.
Median Corvallis, OR home value: $474,930
Median annual Corvallis, OR tax bill: $4,894, $2,494 higher than the national median property tax bill of $2,400.
How are property taxes in Benton County calculated?
Property taxes in Corvallis, OR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Corvallis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Corvallis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Corvallis, Benton County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.01%
Estimate Property Tax Bill
$4,797
$4,451
Property Tax Rates Across Corvallis, Benton County, Oregon
Local government entities set tax rates, which can vary widely within a state. This variance is due to each county's annual assessment of its budgetary needs to provide essential services. The total budget is then divided by the total value of all taxable property within the jurisdiction, resulting in the property tax rate. Although the process involves votes and laws to establish tax rates and budgets, this annual calculation is fundamental to determining property taxes.
In Corvallis, located in Benton County, the effective property tax rate reflects this process. The city's rate can be compared with other cities in Oregon and the broader national landscape. The median property tax rate in Oregon is slightly below the national median, offering a competitive edge for property owners. Within Corvallis, the highest median tax rate is observed in the 97330 zip code, while the lowest is in the 97333 zip code. Comparing these rates provides valuable insight into the local tax landscape, allowing property owners to make informed decisions. By understanding these dynamics, property owners in Corvallis can better navigate the property tax system and potentially identify opportunities for savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Corvallis Tax Rate
1.01%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Benton County Tax Rate
0.99%
Median Effective Oregon Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Corvallis, Benton County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97330 | 0.76% | 0.89% | 1.02% | 1.12% | 1.21% |
| 97333 | 0.73% | 0.88% | 0.99% | 1.10% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Corvallis, Benton County, Oregon
When examining property taxes in Corvallis, Oregon, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Benton County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Benton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Corvallis.
For example, the median home price in Corvallis is $474,930, with tax bills ranging significantly across the county. Zip code 97330 has the highest median home price at $486,780.
Property Tax Assessment Values Across Corvallis, Benton County, Oregon
Source: Ownwell
$241,820
$377,300
$512,780
Median Corvallis Market Value
$474,930
Median Benton County Market Value
$469,320
Median Oregon Market Value
$438,140
Median United States Market Value
$235,294
Property Tax Assessment Values Across Corvallis, Benton County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97330 | $279,870 | $394,325 | $486,780 | $608,700 | $768,300 |
| 97333 | $272,953 | $368,990 | $451,940 | $560,895 | $715,330 |
Source: Ownwell
Property Tax Bills Across Corvallis, Benton County, Oregon
Median Corvallis Tax Bill
$4,894
Median Benton County Tax Bill
$4,711
Median Oregon Tax Bill
$3,628
Median United States Tax Bill
$2,400
Property Tax Bills Across Corvallis, Benton County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97330 | $3,146 | $3,971 | $5,076 | $6,536 | $8,226 |
| 97333 | $2,542 | $3,376 | $4,505 | $5,884 | $7,708 |
Source: Ownwell