Westfir, Oregon Property Taxes
The median property tax rate in Westfir, OR is 0.75%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Westfir at $241,927, the typical annual property tax bill amounts to $1,785, falling below the national median of $2,690. Property taxes in Westfir are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Westfir's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Westfir or another part of Lane County, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Westfir, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s WESTFIR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WESTFIR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WESTFIR 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 Westfir, Oregon
Property taxes in Westfir, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westfir is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Westfir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westfir 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 Westfir's effective property tax rate to other regions in Oregon and the national median. For comparison, the 97492 zip code has the highest median property tax rate of 0.75%, while it also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Westfir 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 Westfir Tax Rate
0.75%
Average Lane County Tax Rate
0.86%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westfir, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97492 | 0.48% | 0.59% | 0.75% | 0.91% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Westfir, Oregon
In Westfir, 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 Westfir, 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 Westfir helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Westfir is $241,927, with tax bills ranging from $1,013 at the 25th percentile to $2,957 at the 90th percentile. The zip code 97492 has both the highest and lowest median tax bill, standing at $1,785.
Average Westfir Assessed Value
$241,927
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 Westfir, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97492 | $20,943 | $110,805 | $241,927 | $304,144 | $377,512 |
Source: Ownwell
Property Tax Bills Across Westfir, Oregon
In Westfir, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by Lane County. The assessed value is typically lower than the market value and is adjusted annually to reflect changes in the housing market. Several factors influence the assessed value, including property size, location, and improvements. For homeowners in Westfir, the median home price stands at $241,927. Property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,013, while those at the 75th percentile see bills closer to $2,227. The 90th percentile tax bill can reach up to $2,957. The median tax bill in the area is $1,785, which aligns with both the highest and lowest median tax bills recorded for the zip code 97492. Compared to the national median property tax rate of 0.99%, Westfir's tax rates reflect the local economic conditions and property values, impacting homeowners' annual financial planning.
Average Westfir Tax Bill
$1,785
Average Lane County Tax Bill
$3,052
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Westfir, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97492 | $302 | $1,013 | $1,785 | $2,227 | $2,957 |
Source: Ownwell