Tualatin, Oregon Property Taxes
The median property tax rate in Tualatin, OR is 0.96%, slightly lower than the national median of 0.99% but higher than the Oregon state median of 0.86%. With the median home value in Tualatin at $556,090, the typical annual property tax bill is $5,312, significantly surpassing the national median of $2,690. Property taxes in Tualatin are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Tualatin'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 Tualatin 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
Tualatin, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$5,338
Ownwell’s Tualatin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tualatin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tualatin 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 Tualatin, Oregon
Property taxes in Tualatin, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tualatin is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Tualatin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tualatin 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 Tualatin's effective property tax rate to other counties and the national median. For comparison, the 97062 zip code has a median property tax rate of 0.96%. Understanding how these areas compare with Tualatin 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 Tualatin Tax Rate
0.96%
Average Washington County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tualatin, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97062 | 0.83% | 0.88% | 0.96% | 1.09% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Tualatin, Oregon
In Tualatin, 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 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 Tualatin, 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 Tualatin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tualatin is $556,090, with annual tax bills ranging from $4,304 at the 25th percentile to $8,828 at the 90th percentile. The zip code 97062 has the highest and lowest median tax bill at $5,312.
Average Tualatin Assessed Value
$556,090
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 Tualatin, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97062 | $316,820 | $489,168 | $556,090 | $684,390 | $810,740 |
Source: Ownwell
Property Tax Bills Across Tualatin, Oregon
In Tualatin, located in Washington County, OR, property tax bills are determined by a combination of the assessed value of your home and the local tax rate. The assessed value is set by the county assessor and is typically a percentage of the market value of the property. For homeowners in Tualatin, the median home price stands at $556,090. Property tax rates in Tualatin can significantly impact the annual tax bill. For instance, the tax bill at the 25th percentile is $4,304, while at the 75th percentile, it reaches $7,387. At the 90th percentile, homeowners might see tax bills as high as $8,828. Compared to the national median property tax rate of 0.99%, these figures illustrate the variability and potential financial burden on homeowners in the area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly. The highest and lowest median tax bills in the area both stand at $5,312, providing a benchmark for what residents might expect to pay.
Average Tualatin Tax Bill
$5,312
Average Washington County Tax Bill
$4,896
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Tualatin, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97062 | $2,777 | $4,304 | $5,312 | $7,387 | $8,828 |
Source: Ownwell