Lebanon, Oregon Property Taxes
The median property tax rate in Lebanon, OR is 0.77%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $355,390 in Lebanon, the typical annual property tax bill reaches $2,920, surpassing the national median of $2,690. Property taxes in Lebanon are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lebanon'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 Lebanon 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
Lebanon, 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 Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon 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 Lebanon, Oregon
Property taxes in Lebanon, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other regions and the national median. For comparison, the 97355 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these figures compare with Lebanon provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
0.77%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97355 | 0.42% | 0.59% | 0.77% | 0.96% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lebanon, 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 Linn 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 Lebanon 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97355 has the highest median tax bill at $2,920, while the lowest is also in the same zip code, reflecting the regional consistency in property tax assessments.
Average Lebanon Assessed Value
$355,390
Average Linn County Assessed Value
$372,065
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97355 | $114,732 | $255,570 | $355,390 | $488,770 | $671,268 |
Source: Ownwell
Property Tax Bills Across Lebanon, Oregon
Property tax bills in Lebanon, Linn County, OR, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is typically a percentage of the market value. Homeowners in Lebanon face a median property tax bill of $2,920, which is above the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, a homeowner with a property valued at the 25th percentile pays around $1,930 in property taxes, while those at the 75th percentile pay approximately $3,868. The tax bill can go as high as $4,941 for properties at the 90th percentile. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners in Lebanon should be aware of these factors and consider appealing their property assessments if they believe they are overvalued.
Average Lebanon Tax Bill
$2,920
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97355 | $905 | $1,930 | $2,920 | $3,868 | $4,941 |
Source: Ownwell