Cave Junction, Oregon Property Taxes
The median property tax rate in Cave Junction, OR is 0.55%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $197,560 in Cave Junction, the typical annual property tax bill comes to $1,077, which is well below the national median of $2,690. Property taxes in Cave Junction 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 Cave Junction'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 Cave Junction 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
Cave Junction, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,087
$1,008
Ownwell’s Cave Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cave Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cave Junction 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 Cave Junction, Oregon
Property taxes in Cave Junction, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cave Junction is 0.55%, significantly lower than the U.S. national median of 0.99%. Local government entities within Cave Junction set these rates annually, and they can vary across different neighborhoods. Each year, Cave Junction 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 Cave Junction's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97523 has both the highest and lowest median property tax rate of 0.55%, illustrating a uniform tax landscape within Cave Junction. Understanding how these rates compare with the national median provides valuable insights into the varying tax landscape across Josephine County, helping homeowners gain a clearer picture of their property tax obligations relative to other regions.
Average Cave Junction Tax Rate
0.55%
Average Josephine County Tax Rate
0.51%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cave Junction, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97523 | 0.33% | 0.45% | 0.55% | 0.67% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Cave Junction, Oregon
In Cave Junction, 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 Josephine 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 Cave Junction, 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 Cave Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1077, found in the 97523 zip code.
Average Cave Junction Assessed Value
$197,560
Average Josephine County Assessed Value
$338,885
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cave Junction, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97523 | $7,128 | $65,430 | $197,560 | $305,800 | $391,976 |
Source: Ownwell
Property Tax Bills Across Cave Junction, Oregon
In Cave Junction, located in Josephine County, OR, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Cave Junction, the median home price is $197,560, and the property tax rate aligns closely with the national median of 0.99%. Several factors influence the final tax bill, including property improvements, changes in market value, and any applicable exemptions. For example, the 25th percentile property tax bill in Cave Junction is $378, while the 75th percentile reaches $1,730, and the 90th percentile can be as high as $2,373. These variations demonstrate how property characteristics and local tax rates can significantly impact what homeowners owe. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Cave Junction Tax Bill
$1,077
Average Josephine County Tax Bill
$1,771
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Cave Junction, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97523 | $25 | $378 | $1,077 | $1,730 | $2,373 |
Source: Ownwell