Cornelius, Oregon Property Taxes
The median property tax rate in Cornelius, OR is 0.80%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Cornelius at $430,250, the typical annual property tax bill amounts to $3,495, surpassing the national median of $2,690. Property taxes in Cornelius are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cornelius'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 Cornelius 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
Cornelius, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$3,442
Ownwell’s Cornelius Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cornelius with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cornelius 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 Cornelius, Oregon
Property taxes in Cornelius, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cornelius is 0.89%, higher than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Cornelius set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cornelius 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 Cornelius's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97124 zip code has the highest median property tax rate of 0.89%, while the 97113 zip code has the lowest median tax rate of 0.80%. Understanding how these cities compare with Cornelius provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cornelius Tax Rate
0.80%
Average Washington County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cornelius, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97113 | 0.63% | 0.73% | 0.80% | 0.88% | 0.94% |
| 97124 | 0.83% | 0.85% | 0.89% | 0.93% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Cornelius, Oregon
In Cornelius, 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 Washington County Assessor's Office 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 Cornelius, 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. The median home price in Cornelius is $430,250, with tax bills ranging from $3,013 at the 25th percentile to $5,222 at the 90th percentile. The highest median tax bill in the region is $5,727 in zip code 97124, while the lowest is $3,485 in zip code 97113. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cornelius Assessed Value
$430,250
Average Washington County Assessed Value
$529,930
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cornelius, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97113 | $86,610 | $374,240 | $428,640 | $502,605 | $604,190 |
| 97124 | $552,453 | $587,330 | $635,455 | $694,775 | $742,576 |
Source: Ownwell
Property Tax Bills Across Cornelius, Oregon
In Cornelius, 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. For homeowners in Cornelius, the median home price stands at $430,250. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,013 and the 75th percentile reaching $4,308. At the higher end, the 90th percentile tax bill is $5,222. Several factors influence these tax bills, including the home's assessed value, any applicable exemptions, and the specific tax rates set by local authorities. Compared to the national median property tax rate of 0.99%, Cornelius homeowners experience a range of tax bills that reflect the area's property values and local tax policies. These taxes play a crucial role in funding essential public services, but they also represent a significant expense for homeowners, impacting their overall cost of living.
Average Cornelius Tax Bill
$3,495
Average Washington County Tax Bill
$4,896
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Cornelius, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97113 | $2,003 | $3,005 | $3,485 | $4,245 | $5,124 |
| 97124 | $5,057 | $5,331 | $5,727 | $6,047 | $6,444 |
Source: Ownwell