Princeton, Oregon Property Taxes
The median property tax rate in Princeton, OR is 0.43%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Princeton, the typical annual property tax bill reaches $1,604, which is well below the national median of $2,690. Property taxes in Princeton 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 Princeton'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 Princeton or another part of Harney County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Princeton, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,656
Ownwell’s Princeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Princeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Princeton 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 Princeton, Oregon
Property taxes in Princeton, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Princeton is 0.43%, which is lower than the U.S. national median of 0.99%. Local government entities within Princeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Princeton 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 Princeton's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97721 has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Princeton provides valuable insights into the varying tax landscape across Harney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Princeton Tax Rate
0.43%
Average Harney County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Princeton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97721 | 0.22% | 0.32% | 0.43% | 0.53% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Princeton, Oregon
In Princeton, 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 Harney 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 Princeton, 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 Princeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Princeton is $385,110, with the highest median tax bill being $1,604 in the zip code 97721, which also has the lowest median tax bill.
Average Princeton Assessed Value
$385,110
Average Harney County Assessed Value
$154,155
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Princeton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97721 | $102,491 | $174,520 | $385,110 | $581,206 | $1,261,299 |
Source: Ownwell
Property Tax Bills Across Princeton, Oregon
In Princeton, Harney County, OR, property tax bills are determined by the assessed value of a home, which is typically lower than its market value. The median home price in Princeton is $385,110. Tax rates are applied to this assessed value to calculate the annual tax bill. Homeowners in Princeton can expect to pay a property tax bill that varies significantly depending on their property's assessed value. For instance, those in the 25th percentile pay around $623 annually, while those in the 75th percentile face a tax bill of approximately $2,297. The top 10% of homeowners, based on property value, could see tax bills as high as $4,142. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Princeton's tax rates can be seen as relatively moderate, making it an attractive location for homeowners looking for a balance between property value and tax liability.
Average Princeton Tax Bill
$1,604
Average Harney County Tax Bill
$1,316
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Princeton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97721 | $425 | $623 | $1,604 | $2,297 | $4,142 |
Source: Ownwell