Portland, Oregon Property Taxes
The median property tax rate in Portland, OR is 0.93%, 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 Portland at $497,390, the typical annual property tax bill reaches $4,676, significantly surpassing the national median of $2,690. Property taxes in Portland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Portland'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 Portland or another part of Clackamas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Portland, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$4,626
Ownwell’s Portland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portland 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 Portland, Oregon
Property taxes in Portland, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other areas in Clackamas County and the national median. For comparison, the 97202 zip code has the highest median property tax rate of 1.11%, while the 97219 zip code has the lowest median tax rate of 0.78%. Understanding how these areas compare with Portland 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 Portland Tax Rate
0.93%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97202 | 1.02% | 1.06% | 1.11% | 1.16% | 1.19% |
| 97206 | 0.67% | 0.74% | 0.81% | 0.93% | 1.02% |
| 97219 | 0.69% | 0.73% | 0.78% | 0.84% | 0.92% |
| 97222 | 0.76% | 0.85% | 0.95% | 1.04% | 1.16% |
| 97236 | 0.98% | 0.99% | 1.00% | 1.01% | 1.02% |
| 97266 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
| 97267 | 0.74% | 0.84% | 0.92% | 1.00% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Oregon
In Portland, 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. Assessment notices in Portland 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. In Portland, the median home price is $497,390. The highest median tax bill is $19,955 in zip code 97236, while the lowest is $3,159 in zip code 97206. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Portland Assessed Value
$497,390
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 Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97202 | $804,627 | $939,870 | $1,089,258 | $1,303,444 | $1,481,065 |
| 97206 | $29,750 | $307,567 | $372,595 | $468,871 | $598,128 |
| 97219 | $510,417 | $556,330 | $642,016 | $826,318 | $1,857,746 |
| 97222 | $283,573 | $393,031 | $476,057 | $577,434 | $718,035 |
| 97236 | $1,475,313 | $1,677,138 | $2,013,515 | $2,349,892 | $2,551,717 |
| 97266 | $461,900 | $465,720 | $465,720 | $569,220 | $569,220 |
| 97267 | $347,787 | $439,662 | $513,832 | $616,491 | $755,810 |
Source: Ownwell
Property Tax Bills Across Portland, Oregon
In Portland, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For homeowners in Clackamas County, the median home price stands at $497,390. Depending on various factors, including neighborhood and property characteristics, tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $3,669, while at the 75th percentile, it reaches $5,726. The top 10% of homeowners see tax bills as high as $7,196. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. While the lowest median tax bill in the area is $3,159 in the 97206 zip code, the highest median tax bill can soar to $19,955 in the 97236 zip code. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Portland Tax Bill
$4,676
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97202 | $8,621 | $10,430 | $12,055 | $14,264 | $16,523 |
| 97206 | $1,947 | $2,490 | $3,159 | $4,315 | $5,704 |
| 97219 | $3,800 | $4,192 | $4,955 | $6,636 | $17,116 |
| 97222 | $2,530 | $3,512 | $4,565 | $5,598 | $7,058 |
| 97236 | $14,942 | $16,822 | $19,955 | $23,088 | $24,968 |
| 97266 | $4,849 | $4,887 | $4,887 | $5,962 | $5,962 |
| 97267 | $3,008 | $3,894 | $4,782 | $5,838 | $7,176 |
Source: Ownwell