Cottage Grove, Oregon Property Taxes
The median property tax rate in Cottage Grove, OR is 0.55%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $229,760 in Cottage Grove, the typical annual property tax bill is $1,151, well below the national median of $2,690. Property taxes in Cottage Grove 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 Cottage Grove'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 Cottage Grove 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
Cottage Grove, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,264
Ownwell’s Cottage Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cottage Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cottage Grove 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 Cottage Grove, Oregon
Property taxes in Cottage Grove, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cottage Grove is 0.55%, significantly lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Cottage Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cottage Grove 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 Cottage Grove's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97424 in Douglas County has the highest median property tax rate of 0.55%, which is the same as the lowest median tax rate in the same zip code. Understanding how these areas compare with Cottage Grove provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cottage Grove Tax Rate
0.55%
Average Douglas County Tax Rate
0.66%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | 0.33% | 0.45% | 0.55% | 0.69% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Cottage Grove, Oregon
In Cottage Grove, 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 Douglas 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. 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 Cottage Grove is $229,760, with tax bills ranging from $229 at the 25th percentile to $2,548 at the 90th percentile. The zip code 97424 has both the highest and lowest median tax bills, each at $1,151. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cottage Grove Assessed Value
$229,760
Average Douglas County Assessed Value
$222,242
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | $9,534 | $54,439 | $229,760 | $336,715 | $434,928 |
Source: Ownwell
Property Tax Bills Across Cottage Grove, Oregon
In Cottage Grove, property tax bills are determined by assessing the value of a property and applying the local tax rate to that value. The assessed value is based on the market value of the property, which in Cottage Grove has a median home price of $229,760. Various factors such as location, property size, and improvements can influence this assessed value. Homeowners in Cottage Grove can expect their tax bills to vary significantly. For instance, tax bills in the 25th percentile are around $229, while those in the 75th percentile reach $1,879, and at the 90th percentile, they can go up to $2,548. Compared to the national median property tax rate of 0.99%, the property tax rate in Cottage Grove reflects these variations, impacting homeowners' annual financial planning. The highest and lowest median tax bills in the area both stand at $1,151, indicating a relatively stable tax environment within the specified zip code of 97424.
Average Cottage Grove Tax Bill
$1,151
Average Douglas County Tax Bill
$1,430
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Cottage Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97424 | $69 | $229 | $1,151 | $1,879 | $2,548 |
Source: Ownwell