Walterville, Oregon Property Taxes
The median property tax rate in Walterville, OR is 0.57%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Walterville at $464,632, the typical annual property tax bill is $2,447, which is below the national median of $2,690. Property taxes in Walterville are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Walterville’s property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Walterville or another part of Lane County, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Walterville, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$2,648
$2,458
Ownwell’s Walterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walterville 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 Walterville, Oregon
Property taxes in Walterville, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walterville is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Walterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walterville 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 Walterville's effective property tax rate to other areas in Lane County and the national median. For comparison, the zip code 97489 has both the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Walterville 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 Walterville Tax Rate
0.57%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walterville, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97489 | 0.44% | 0.50% | 0.57% | 0.66% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Walterville, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Walterville, 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 Walterville, 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 Walterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Walterville is $464,632, with tax bills ranging from $1,309 at the 25th percentile to $5,436 at the 90th percentile. The highest and lowest median tax bills are both $2,447 in the 97489 zip code.
Average Walterville Assessed Value
$464,632
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 Walterville, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97489 | $69,211 | $257,106 | $464,632 | $656,188 | $877,568 |
Source: Ownwell
Property Tax Bills Across Walterville, Oregon
In Walterville, 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 typically a percentage of the market value of the property. For example, with a median home price of $464,632, property taxes can vary significantly depending on the specific valuation and applicable tax rates. Homeowners in Walterville can expect tax bills to range from the 25th percentile at $1,309 to the 90th percentile at $5,436. This variation is influenced by factors such as property improvements, neighborhood changes, and local tax levies. The median property tax rate in Walterville is lower than the national median of 0.99%, making it relatively more affordable for homeowners. However, those in the highest median tax bill zip code, 97489, face a tax bill of $2,447. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Walterville Tax Bill
$2,447
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Walterville, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97489 | $451 | $1,309 | $2,447 | $3,879 | $5,436 |
Source: Ownwell