Lakeview, Oregon Property Taxes
The median property tax rate in Lakeview, OR is 0.89%, slightly below the national median of 0.99% but higher than the Oregon state median of 0.86%. With the median home value in Lakeview, the typical annual property tax bill reaches $1,097, which is significantly less than the national median of $2,690. Property taxes in Lakeview 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 Lakeview'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 Lakeview 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
Lakeview, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Lakeview Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lakeview, Oregon. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeview to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities, allowing for better financial planning. If you’re interested in more detailed trends at the neighborhood level, scroll down for localized information. Remember, your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lakeview, Oregon
Property taxes in Lakeview, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeview is 0.89%, which is slightly below the U.S. national median of 0.99%. Local government entities within Lakeview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeview 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 Lakeview's effective property tax rate to other regions in Oregon and the national median. For comparison, the zip code 97630 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Lakeview provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeview Tax Rate
0.89%
Average Lake County Tax Rate
0.80%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeview, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97630 | 0.31% | 0.62% | 0.89% | 1.18% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, Oregon
In Lakeview, 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 Lake 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 Lakeview, 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 Lakeview is $128,770, with tax bills ranging from $516 at the 25th percentile to $2,726 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest and lowest median tax bills in Lakeview are both $1,097, found in the 97630 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeview Assessed Value
$128,770
Average Lake County Assessed Value
$110,290
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeview, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97630 | $20,790 | $51,862 | $128,770 | $287,490 | $671,781 |
Source: Ownwell
Property Tax Bills Across Lakeview, Oregon
In Lakeview, Lake County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the property's size, location, and market conditions influence its assessed value. For homeowners in Lakeview, the median home price is $128,770. The property tax bill can vary significantly, with the 25th percentile at $516 and the 75th percentile reaching $1986. At the 90th percentile, homeowners might see tax bills as high as $2726. The median property tax rate in Lakeview aligns with the national median of 0.99%, making it relatively comparable to other regions. These property taxes fund essential local services, including schools, emergency services, and infrastructure maintenance, directly impacting the community's quality of life. Homeowners must stay informed about their property’s assessed value and any changes in local tax rates to manage their financial responsibilities effectively.
Average Lakeview Tax Bill
$1,097
Average Lake County Tax Bill
$884
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeview, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97630 | $249 | $516 | $1,097 | $1,986 | $2,726 |
Source: Ownwell