Welches, Oregon Property Taxes
The median property tax rate in Welches, OR is 0.70%, which is lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Welches at $368,054, the typical annual property tax bill is $2,609, slightly below the national median of $2,690. Property taxes in Welches are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Welches' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Welches 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
Welches, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,576
Ownwell’s Welches Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Welches with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Welches 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 Welches, Oregon
Property taxes in Welches, Oregon, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Welches is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Welches set these rates annually, and they can vary significantly across different neighborhoods. Each year, Welches 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 Welches's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97067 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Welches 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 Welches Tax Rate
0.70%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Welches, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97067 | 0.58% | 0.63% | 0.70% | 0.78% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Welches, Oregon
In Welches, 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 Welches, 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 Welches is $368,054. The median tax bill is $2,609, with the lowest and highest bills in the 97067 zip code being the same at $2,609. 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 Welches helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Welches Assessed Value
$368,054
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 Welches, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97067 | $84,750 | $141,978 | $368,054 | $609,532 | $850,957 |
Source: Ownwell
Property Tax Bills Across Welches, Oregon
In Welches, property tax bills are calculated based on the assessed value of a home, which is determined by the Clackamas County Assessor. This assessed value is often a percentage of the market value, taking into account factors like property size, location, and condition. Homeowners in Welches can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,203, while the 75th percentile reaches up to $4,327. At the higher end, the 90th percentile tax bill can be as much as $5,986. Compared to the national median property tax rate of 0.99%, the tax bills in Welches reflect the area's specific valuation methods and local tax rates. These property taxes are crucial for funding public services such as schools, emergency services, and infrastructure projects. For homeowners, understanding these factors is essential for financial planning and assessing the overall cost of homeownership in Welches.
Average Welches Tax Bill
$2,609
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Welches, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97067 | $698 | $1,203 | $2,609 | $4,327 | $5,986 |
Source: Ownwell