Junction City, Oregon Property Taxes
The median property tax rate in Junction City, OR is 0.56%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Junction City at $348,270, the typical annual property tax bill is $2,242, which is below the national median of $2,690. Property taxes in Junction City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Junction City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Junction City 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
Junction City, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,950
$1,810
Ownwell’s Junction City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction 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 Junction City, Oregon
Property taxes in Junction City, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction City is 0.56%, lower than the U.S. national median of 0.99%. Local government entities within Junction City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction 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 Junction City's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97448 zip code has the highest median property tax rate of 0.56%, while the 97448 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Junction City provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction City Tax Rate
0.56%
Average Benton County Tax Rate
0.99%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97448 | 0.49% | 0.53% | 0.56% | 0.70% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Junction City, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Junction City, 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 Benton 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 Junction 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Junction City is $348,270, with the 25th percentile tax bill at $1,748 and the 75th percentile tax bill at $2,990. The zip code 97448 has both the highest and lowest median tax bill at $2,242. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Junction City Assessed Value
$348,270
Average Benton County Assessed Value
$469,320
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junction City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97448 | $5,716 | $93,610 | $348,270 | $456,135 | $617,322 |
Source: Ownwell
Property Tax Bills Across Junction City, Oregon
In Junction City, Benton County, OR, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value often differs from the market value, reflecting a percentage of the latter. Various factors influence this assessed value, including property size, location, and improvements made to the home. For homeowners in Junction City, the property tax rate is applied to the assessed value to determine the annual tax bill. The median home price in the area stands at $348,270. Homeowners in the 25th percentile can expect an annual tax bill of approximately $1,748, while those in the 75th percentile may see bills around $2,990. At the 90th percentile, tax bills can reach up to $3,899. Compared to the national median property tax rate of 0.99%, Junction City's tax rates may vary, affecting homeowners differently based on their property's assessed value. This system ensures that property taxes are proportionate to the value and condition of each home, impacting household finances accordingly.
Average Junction City Tax Bill
$2,242
Average Benton County Tax Bill
$4,711
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97448 | $1,259 | $1,748 | $2,242 | $2,990 | $3,899 |
Source: Ownwell