Crescent, Oregon Property Taxes
The median property tax rate in Crescent, OR is 0.66%, which is significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $109,990 in Crescent, the typical annual property tax bill comes to $805, well below the national median of $2,690. Property taxes in Crescent 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 Crescent'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 Crescent 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
Crescent, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$726
$674
Ownwell’s Crescent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crescent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crescent 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 Crescent, Oregon
Property taxes in Crescent, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crescent is 0.66%, lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Crescent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crescent 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 Crescent's effective property tax rate to other areas in Klamath County and the national median. For comparison, the zip code 97733 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Crescent provides valuable insights into the varying tax landscape across Klamath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crescent Tax Rate
0.66%
Average Klamath County Tax Rate
0.72%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crescent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | 0.32% | 0.44% | 0.66% | 1.02% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Crescent, Oregon
In Crescent, 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 Klamath 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 Crescent, 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 Crescent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Crescent is $805.00 in the 97733 zip code, while the lowest median tax bill is also $805.00 in the same zip code.
Average Crescent Assessed Value
$109,990
Average Klamath County Assessed Value
$184,440
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crescent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | $15,108 | $49,840 | $109,990 | $245,280 | $468,544 |
Source: Ownwell
Property Tax Bills Across Crescent, Oregon
In Crescent, located in Klamath County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is typically a percentage of the market value of the property. Homeowners in Crescent might see a range of tax bills depending on their property’s value and any applicable exemptions. For instance, the tax bill for the 25th percentile is around $339, while those in the 75th percentile might pay approximately $1,503. The highest median tax bill in the area is $805, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Crescent Tax Bill
$805
Average Klamath County Tax Bill
$1,333
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Crescent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97733 | $126 | $339 | $805 | $1,503 | $2,212 |
Source: Ownwell