Mckenzie Bridge, Oregon Property Taxes
The median property tax rate in McKenzie Bridge, OR is 0.56%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in McKenzie Bridge at $349,387, the typical annual property tax bill is $1,922, well below the national median of $2,690. Property taxes in McKenzie Bridge 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 McKenzie Bridge'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 McKenzie Bridge 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
Mckenzie Bridge, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,957
$1,816
Ownwell’s MCKENZIE BRIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MCKENZIE BRIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MCKENZIE BRIDGE 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 Mckenzie Bridge, Oregon
Property taxes in McKenzie Bridge, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McKenzie Bridge is 0.56%, which is significantly lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within McKenzie Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, McKenzie Bridge 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 McKenzie Bridge's effective property tax rate to other areas in Oregon and the national median. For comparison, the 97413 zip code has the highest median property tax rate of 0.56% and the lowest median tax rate of 0.56%. Understanding how these areas compare with McKenzie Bridge 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 Mckenzie Bridge Tax Rate
0.56%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mckenzie Bridge, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97413 | 0.38% | 0.48% | 0.56% | 0.67% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Mckenzie Bridge, Oregon
In McKenzie Bridge, 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 McKenzie Bridge, 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 McKenzie Bridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $349,387, with tax bills ranging from $1,000 at the 25th percentile to $3,724 at the 90th percentile. The zip code 97413 has both the highest and lowest median tax bills at $1,922.
Average Mckenzie Bridge Assessed Value
$349,387
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 Mckenzie Bridge, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97413 | $50,644 | $164,071 | $349,387 | $443,496 | $658,686 |
Source: Ownwell
Property Tax Bills Across Mckenzie Bridge, Oregon
In McKenzie Bridge, property tax bills are calculated by assessing the value of a property and applying the local tax rate. The assessed value is determined based on various factors, including market conditions, property size, and improvements. Lane County, where McKenzie Bridge is located, uses this assessed value to calculate the tax bill. Homeowners in McKenzie Bridge can expect tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $1,000, while the 75th percentile reaches up to $2,850. The highest tax bills can go up to $3,724. The median home price in the area is $349,387, which gives an idea of the property values influencing these tax bills. Compared to the national median property tax rate of 0.99%, McKenzie Bridge's property taxes can be considered moderate. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how these factors interplay helps homeowners anticipate their annual financial obligations.
Average Mckenzie Bridge Tax Bill
$1,922
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Mckenzie Bridge, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97413 | $332 | $1,000 | $1,922 | $2,850 | $3,724 |
Source: Ownwell