Troutdale, Oregon Property Taxes
The median property tax rate in Troutdale, OR is 0.94%, slightly below the national median of 0.99% but higher than Oregon's state median of 0.86%. With the median home value in Troutdale at $456,140, the typical annual property tax bill reaches $4,298, significantly surpassing the national median of $2,690. Property taxes in Troutdale are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Troutdale'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 Troutdale 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
Troutdale, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$4,288
Ownwell’s Troutdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Troutdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Troutdale 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 Troutdale, Oregon
Property taxes in Troutdale, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Troutdale is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Troutdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Troutdale 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 Troutdale's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97060 zip code has a consistent median property tax rate of 0.94%. Understanding how these cities compare with Troutdale provides valuable insights into the varying tax landscape across Multnomah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Troutdale Tax Rate
0.94%
Average Multnomah County Tax Rate
1.07%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Troutdale, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97060 | 0.78% | 0.89% | 0.94% | 1.00% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Troutdale, Oregon
In Troutdale, 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 Multnomah 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 Troutdale, 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 Troutdale is $456,140, with tax bills ranging from $3,821 at the 25th percentile to $5,694 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 Troutdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Troutdale Assessed Value
$456,140
Average Multnomah County Assessed Value
$496,670
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Troutdale, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97060 | $352,500 | $406,695 | $456,140 | $507,505 | $580,950 |
Source: Ownwell
Property Tax Bills Across Troutdale, Oregon
In Troutdale, located in Multnomah County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is often lower than the market value, and this figure is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $456,140, homeowners in Troutdale can expect varying tax bills. The 25th percentile tax bill is around $3,821, while the 75th percentile tax bill reaches approximately $4,838. For those in the 90th percentile, the tax bill can climb to $5,694. This variability depends on specific factors like property improvements, neighborhood changes, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Troutdale's tax rates reflect the local economic conditions and funding needs for public services. These taxes significantly impact homeowners by contributing to community resources, such as schools and infrastructure, but also represent a substantial annual expense.
Average Troutdale Tax Bill
$4,298
Average Multnomah County Tax Bill
$5,046
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Troutdale, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97060 | $3,215 | $3,821 | $4,298 | $4,838 | $5,694 |
Source: Ownwell