Terrebonne, Jefferson County, Oregon Property Taxes
The median property tax rate in Terrebonne, OR is 0.55%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Terrebonne at $479,435, the typical annual property tax bill is $2,603, just under the national median of $2,690. Property taxes in Terrebonne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Terrebonne'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 Terrebonne 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
Terrebonne, Jefferson County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,637
$2,447
Ownwell’s Terrebonne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Terrebonne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Terrebonne 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 Terrebonne, Jefferson County, Oregon
Property taxes in Terrebonne, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Terrebonne is 0.55%, significantly lower than the U.S. national median of 0.99%. Local government entities within Terrebonne set these rates annually, and they can vary across different neighborhoods. Each year, Terrebonne 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 Terrebonne's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97760 zip code has the highest median property tax rate of 0.55%, while the same zip code has the lowest median tax rate of 0.55%. Understanding how these areas compare with Terrebonne provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Terrebonne Tax Rate
0.55%
Average Jefferson County Tax Rate
0.67%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Terrebonne, Jefferson County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | 0.41% | 0.48% | 0.55% | 0.64% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Terrebonne, Jefferson County, Oregon
In Terrebonne, 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 Jefferson 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 Terrebonne, 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 Terrebonne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 97760, with a median tax bill of $2,603.
Property Tax Assessment Values Across Terrebonne, Jefferson County, Oregon
Source: Ownwell
$235,040
$424,250
$613,460
Average Terrebonne Assessed Value
$479,435
Average Jefferson County Assessed Value
$346,110
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Terrebonne, Jefferson County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | $277,050 | $366,032 | $479,435 | $618,352 | $764,170 |
Source: Ownwell
Property Tax Bills Across Terrebonne, Jefferson County, Oregon
In Terrebonne, Jefferson County, OR, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the total tax bill. For homeowners in Terrebonne, the median home price is $479,435, and property tax bills can vary significantly. At the 25th percentile, homeowners can expect to pay around $2,000 annually, while those at the 75th percentile might see bills closer to $3,345. The highest bills, in the 90th percentile, can reach up to $4,246. These figures are influenced by factors such as property improvements, neighborhood developments, and changes in market conditions. Compared to the national median property tax rate of 0.99%, Terrebonne's property tax bills reflect the local economic environment and public service needs. For homeowners, understanding these factors is crucial for financial planning and anticipating future tax obligations.
Average Terrebonne Tax Bill
$2,603
Average Jefferson County Tax Bill
$2,261
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Terrebonne, Jefferson County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | $1,476 | $2,000 | $2,603 | $3,345 | $4,246 |
Source: Ownwell