Walton, Oregon Property Taxes
The median property tax rate in Walton, OR is 0.57%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $202,252 in Walton, the typical annual property tax bill is $1,042, well below the national median of $2,690. Property taxes in Walton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walton'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 Walton 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
Walton, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,153
Ownwell’s Walton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walton 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 Walton, Oregon
Property taxes in Walton, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walton is 0.57%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Walton set these rates annually, and they can vary across different neighborhoods. Each year, Walton 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 Walton's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97490 has both the highest and lowest median property tax rate in the area, standing at 0.57%. Understanding how these cities compare with Walton 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 Walton 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 Walton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97490 | 0.25% | 0.41% | 0.57% | 0.66% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Walton, Oregon
In Walton, 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 Walton, 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 Walton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97490 has both the highest and lowest median tax bills, each valued at $1,042.
Average Walton Assessed Value
$202,252
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 Walton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97490 | $29,130 | $111,759 | $202,252 | $340,130 | $437,203 |
Source: Ownwell
Property Tax Bills Across Walton, Oregon
In Walton, Lane County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Walton's median home price is $202,252. Homeowners in Walton can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $424, while the 75th percentile reaches $1,996, and the 90th percentile can be as high as $2,959. The highest and lowest median tax bills in Walton both stand at $1,042, aligning with the zip code 97490. Compared to the national median property tax rate of 0.99%, Walton's property tax rates can influence the affordability of homeownership. These tax bills contribute to local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Walton Tax Bill
$1,042
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97490 | $165 | $424 | $1,042 | $1,996 | $2,959 |
Source: Ownwell