Marcola, Oregon Property Taxes
The median property tax rate in Marcola, OR is 0.61%, significantly lower than both the national median of 0.99% and Oregon's state median of 0.86%. With a median home value of $294,874, the typical annual property tax bill in Marcola amounts to $1,647, well below the national median of $2,690. Property taxes in Marcola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Marcola'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 Marcola or another part of Lane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marcola, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,799
$1,669
Ownwell’s Marcola Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marcola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marcola to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by Lane County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marcola, Oregon
Property taxes in Marcola, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marcola is 0.61%, lower than the U.S. national median of 0.99%. Local government entities within Marcola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marcola 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 Marcola's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97454 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Marcola 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 Marcola Tax Rate
0.61%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marcola, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97454 | 0.40% | 0.50% | 0.61% | 0.69% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Marcola, Oregon
In Marcola, 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 Assessment and Taxation office 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 Marcola, 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 Marcola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marcola is $294,874, with the median tax bill at $1,647 in the 97454 zip code.
Average Marcola Assessed Value
$294,874
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 Marcola, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97454 | $38,945 | $138,445 | $294,874 | $448,163 | $585,694 |
Source: Ownwell
Property Tax Bills Across Marcola, Oregon
In Marcola, Lane County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is often a percentage of the market value, reflecting current real estate trends. For homeowners in Marcola, the median home price stands at $294,874. Property taxes are then applied to this assessed value using the local tax rate. Factors considered in determining the tax bill include property size, location, and improvements made to the property. For instance, tax bills in Marcola can vary significantly, with the 25th percentile at $758 and the 75th percentile at $2,740, indicating a wide range of property values and corresponding tax obligations. The 90th percentile tax bill reaches up to $3,833, showing the upper end of property tax payments in the area. Homeowners in Marcola should be aware of these factors as they can significantly impact their annual financial planning. Understanding how property taxes are calculated helps homeowners anticipate their tax burden and make informed decisions about property investments.
Average Marcola Tax Bill
$1,647
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Marcola, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97454 | $176 | $758 | $1,647 | $2,740 | $3,833 |
Source: Ownwell