Springfield, Oregon Property Taxes
The median property tax rate in Springfield, OR is 0.85%, slightly below the state median of 0.86% but still close to the national median of 0.99%. With a median home value of $360,226, the typical annual property tax bill in Springfield reaches $2,964, which is above the national median of $2,690. Property taxes in Springfield are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Springfield'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 Springfield 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
Springfield, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$3,062
Ownwell’s Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, Oregon
Property taxes in Springfield, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other areas in Oregon and the national median. For comparison, the 97478 zip code has the highest median property tax rate of 0.87%, while the 97477 zip code has the lowest median tax rate of 0.83%. Understanding how these cities compare with Springfield 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 Springfield Tax Rate
0.85%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97477 | 0.63% | 0.71% | 0.83% | 0.94% | 1.07% |
| 97478 | 0.56% | 0.70% | 0.87% | 0.97% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Springfield, Oregon. 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 Springfield, 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 Springfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Springfield is $3,139 in the 97478 zip code, while the lowest median tax bill is $2,801 in the 97477 zip code.
Average Springfield Assessed Value
$360,226
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 Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97477 | $113,973 | $276,729 | $350,468 | $421,142 | $507,881 |
| 97478 | $61,581 | $282,357 | $368,390 | $464,244 | $602,067 |
Source: Ownwell
Property Tax Bills Across Springfield, Oregon
In Springfield, Lane County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. This assessed value is often lower than the market value and is used to ensure a fair distribution of tax responsibilities among homeowners. The tax rate applied to this assessed value determines the final tax bill. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence the assessed value. Homeowners in Springfield experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $2,202, while at the 75th percentile, it rises to $3,841. The 90th percentile sees tax bills as high as $4,951. The median home price in Springfield is $360,226, which plays a significant role in determining these tax amounts. Compared to the national median property tax rate of 0.99%, Springfield's rates reflect the region's unique economic and real estate conditions, impacting homeowners' financial planning and housing affordability.
Average Springfield Tax Bill
$2,964
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97477 | $1,395 | $2,163 | $2,801 | $3,609 | $4,820 |
| 97478 | $958 | $2,263 | $3,139 | $4,017 | $5,028 |
Source: Ownwell