Springfield, Oregon Property Taxes
The median property tax rate in Springfield, OR is 0.24%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $475,300 in Springfield, the typical annual property tax bill amounts to $1,139, which is well below the national median of $2,690. Property taxes in Springfield are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Springfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Springfield or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Springfield, 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 Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, Oregon
Property taxes in Springfield, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 1.2%, higher than both the Oregon state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97477 zip code has the highest median property tax rate of 1.35%, while the 97478 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Springfield 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 Springfield Tax Rate
0.24%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97478 | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Oregon
In Springfield, 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 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. In Springfield, 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 Springfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 97478, with a median bill of $1,139, which is also the lowest in the area.
Average Springfield Assessed Value
$475,300
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 Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97478 | $475,300 | $475,300 | $475,300 | $475,300 | $475,300 |
Source: Ownwell
Property Tax Bills Across Springfield, Oregon
In Springfield, located in Linn County, OR, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local tax assessor and typically lags behind the current market value, offering some relief to homeowners during periods of rapid market growth. For a median home price of $475,300, the property tax rate is applied to this assessed value to determine the tax bill. Factors influencing the tax bill include local tax rates, which are set by various taxing jurisdictions such as school districts and municipal services. In Springfield, the median property tax bill stands at $1,139, which is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Springfield benefit from this lower tax burden, making it a more affordable option for property ownership. The consistency in tax bills across different percentiles also indicates a stable and predictable tax environment for residents.
Average Springfield Tax Bill
$1,139
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97478 | $1,139 | $1,139 | $1,139 | $1,139 | $1,139 |
Source: Ownwell