97355 Property Tax Rate

Property owners in ZIP code 97355 (Lebanon, Oregon) pay a median of $2,827/year in property taxes on homes valued at $332,700. This translates to an effective tax rate of 0.85%, which is 15% above the Oregon state average of 0.74%.

The monthly property tax burden for a median-valued home in 97355 is approximately $236, which factors into escrow payments on mortgages. This ZIP code is located within Linn County.

Compared to similar ZIP codes in Oregon, 97355 has higher property taxes. ZIP codes with similar effective rates include 97404 (0.85%) and 97123 (0.85%).

In Lebanon, property taxes represent approximately 4.4% of the median household income of $64,307, providing context for the relative tax burden on homeowners in this area.

Under Oregon's Measure 50, your assessed value is capped at 3% annual increase, but resets to market value at purchase—your first-year tax bill will reflect your acquisition price. Linn County does not offer a statewide homestead exemption; seniors 65+ and disabled homeowners should apply for county-specific relief programs by contacting the Linn County Assessor immediately after closing to verify eligibility. Review your Notice of Assessed Value within 30 days of receipt and file a formal appeal with the Linn County Assessor if the assessed value exceeds recent comparable sales.