Molalla, Oregon Property Taxes
The median property tax rate in Molalla, OR is 0.72%, lower than both the national median of 0.99% and Oregon's state median of 0.86%. With the median home value in Molalla, the typical annual property tax bill reaches $3,280, surpassing the national median of $2,690. Property taxes in Molalla are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Molalla'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 Molalla 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
Molalla, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$3,185
Ownwell’s Molalla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Molalla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Molalla 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 Molalla, Oregon
Property taxes in Molalla, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Molalla is 0.72%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Molalla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Molalla 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 Molalla's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97038 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Molalla provides valuable insights into the varying tax landscape across Clackamas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Molalla Tax Rate
0.72%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Molalla, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97038 | 0.43% | 0.56% | 0.72% | 0.84% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Molalla, Oregon
In Molalla, 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 Clackamas 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 Molalla, 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. The median home price in Molalla is $442,398, with annual tax bills ranging from $2,314 at the 25th percentile to $5,023 at the 90th percentile. 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 Molalla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Molalla Assessed Value
$442,398
Average Clackamas County Assessed Value
$564,773
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Molalla, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97038 | $183,580 | $357,434 | $442,398 | $591,485 | $853,858 |
Source: Ownwell
Property Tax Bills Across Molalla, Oregon
In Molalla, located in Clackamas 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 local tax assessors and is typically lower than the market value. Homeowners in Molalla can expect their tax bills to vary significantly depending on several factors, including property size, location, and any applicable exemptions. For instance, the median home price in Molalla is $442,398, and property tax bills range widely. At the 25th percentile, the tax bill is around $2,314, while at the 75th percentile, it rises to approximately $4,028. The top 10% of tax bills can reach up to $5,023. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Molalla's property taxes reflect the region's specific needs and economic conditions, ensuring that local services remain adequately funded.
Average Molalla Tax Bill
$3,280
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Molalla, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97038 | $1,289 | $2,314 | $3,280 | $4,028 | $5,023 |
Source: Ownwell