Creswell, Oregon Property Taxes
The median property tax rate in Creswell, OR is 0.67%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Creswell at $366,558, the typical annual property tax bill amounts to $2,493, falling below the national median of $2,690. Property taxes in Creswell are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Creswell'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 Creswell 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
Creswell, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,456
$2,279
Ownwell’s Creswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creswell 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 Creswell, Oregon
Property taxes in Creswell, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Creswell is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Creswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creswell 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 Creswell's effective property tax rate to other areas in Lane County and the national median. For comparison, the 97426 zip code has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Creswell provides valuable insights into the varying tax landscape across Lane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creswell Tax Rate
0.67%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creswell, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97426 | 0.45% | 0.56% | 0.67% | 0.77% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Creswell, Oregon
In Creswell, 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 Lane 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 Creswell, 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 Creswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Creswell is $366,558, with median tax bills ranging from $1,364 at the 25th percentile to $4,330 at the 90th percentile. The highest and lowest median tax bills are both $2,493 in the 97426 zip code.
Average Creswell Assessed Value
$366,558
Average Lane County Assessed Value
$368,888
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creswell, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97426 | $43,970 | $204,853 | $366,558 | $468,556 | $595,391 |
Source: Ownwell
Property Tax Bills Across Creswell, Oregon
In Creswell, Lane County, OR, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the county assessor and can be influenced by factors such as the property's size, location, and any improvements made. For instance, a median home price in Creswell is $366,558. With the national median property tax rate at 0.99%, homeowners in Creswell might expect their tax bills to vary significantly. Homeowners in the 25th percentile typically see tax bills around $1,364, while those in the 75th percentile face bills closer to $3,276. At the higher end, the 90th percentile tax bills reach up to $4,330. The highest median tax bill recorded in Creswell is $2,493, which is consistent across various zip codes. These property taxes fund essential local services, such as schools, public safety, and infrastructure maintenance, directly impacting the quality of life for Creswell residents.
Average Creswell Tax Bill
$2,493
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Creswell, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97426 | $430 | $1,364 | $2,493 | $3,276 | $4,330 |
Source: Ownwell