Tidewater, Oregon Property Taxes
The median property tax rate in Tidewater, Oregon is 0.50%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Tidewater, the typical annual property tax bill reaches $612, significantly below the national median of $2,690. Property taxes in Tidewater 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 Tidewater'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 Tidewater 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
Tidewater, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$513
$476
Ownwell’s Tidewater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tidewater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tidewater 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 Tidewater, Oregon
Property taxes in Tidewater, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tidewater is 0.50%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Tidewater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tidewater 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 Tidewater's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97390 has both the highest and lowest median property tax rate of 0.50%. Understanding how these areas compare with Tidewater 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 Tidewater Tax Rate
0.50%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tidewater, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97390 | 0.46% | 0.47% | 0.50% | 0.60% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Tidewater, Oregon
In Tidewater, 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. Assessment notices in Tidewater 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 Tidewater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tidewater are both $612, found in zip code 97390.
Average Tidewater Assessed Value
$102,595
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 Tidewater, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97390 | $33,309 | $48,434 | $102,595 | $224,470 | $371,457 |
Source: Ownwell
Property Tax Bills Across Tidewater, Oregon
In Tidewater, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Tidewater is $102,595, which provides a baseline for these calculations. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Tidewater, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $293, while the 75th percentile tax bill reaches $1,318. At the 90th percentile, homeowners might see tax bills as high as $1,716. The highest and lowest median tax bills in the area are both $612, reflecting the uniformity within certain zip codes like 97390. Compared to the national median property tax rate of 0.99%, Tidewater's property taxes can be relatively moderate, but they still represent a significant expense for homeowners, impacting their overall financial planning and homeownership costs.
Average Tidewater Tax Bill
$612
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Tidewater, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97390 | $198 | $293 | $612 | $1,318 | $1,716 |
Source: Ownwell