Falls City, Oregon Property Taxes
The median property tax rate in Falls City, OR is 0.58%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $185,710 in Falls City, the typical annual property tax bill amounts to $1,195, which is less than the national median of $2,690. Property taxes in Falls City are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Falls City'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 Falls City or another part of Polk County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Falls City, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,077
$1,000
Ownwell’s Falls City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falls City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls City 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 Falls City, Oregon
Property taxes in Falls City, Oregon, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Falls City is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Falls City set these rates annually, and they can vary across different neighborhoods. Each year, Falls City 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 Falls City's effective property tax rate to other areas in Polk County and the national median. For comparison, the zip code 97344 has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Falls City provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falls City Tax Rate
0.58%
Average Polk County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falls City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97344 | 0.37% | 0.48% | 0.58% | 0.71% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Falls City, Oregon
In Falls City, 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 Polk 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 Falls City, 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 Falls City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Falls City is $185,710, with median tax bills ranging from $653 at the 25th percentile to $2,128 at the 90th percentile. The zip code 97344 has both the highest and lowest median tax bill at $1,195.
Average Falls City Assessed Value
$185,710
Average Polk County Assessed Value
$397,555
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falls City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97344 | $52,256 | $92,770 | $185,710 | $268,625 | $349,646 |
Source: Ownwell
Property Tax Bills Across Falls City, Oregon
In Falls City, property tax bills are calculated based on the assessed value of the property, which is determined by the Polk County Assessor's Office. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Falls City, the median home price is $185,710. Property tax bills can vary significantly, with the 25th percentile tax bill at $653 and the 75th percentile tax bill at $1,680. The 90th percentile tax bill can go up to $2,128. The highest and lowest median tax bills in the area are both $1,195, found in the zip code 97344. Comparatively, the national median property tax rate is 0.99%, making Falls City's rates competitive. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Falls City Tax Bill
$1,195
Average Polk County Tax Bill
$3,175
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97344 | $246 | $653 | $1,195 | $1,680 | $2,128 |
Source: Ownwell