Boring, Oregon Property Taxes
The median property tax rate in Boring, OR is 0.98%, 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 Boring at $593,950, the typical annual property tax bill reaches $6,052, significantly exceeding the national median of $2,690. Property taxes in Boring 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 Boring'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 Boring or another part of Multnomah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boring, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$5,821
Ownwell’s Boring Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Boring. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Boring to provide an accurate estimate of your property tax bill. This valuable resource helps you gain a clear understanding of your potential tax liabilities. For those interested in more granular details, localized information is available to explore neighborhood-level trends. Your property’s assessed value, determined by the county, is crucial for these calculations and considers any applicable exemptions.
Property Tax Rates Across Boring, Oregon
Property taxes in Boring, Oregon, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boring is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Boring set these rates annually, and they can vary across different neighborhoods. Each year, Boring 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. Understanding how Boring's tax rate compares with other areas in Multnomah County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Boring Tax Rate
0.98%
Average Multnomah County Tax Rate
1.07%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boring, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97009 | 0.76% | 0.83% | 0.98% | 1.07% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Boring, Oregon
In Boring, 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 Boring, 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. The median home price in Boring is $593,950, with tax bills ranging from $4,659 at the 25th percentile to $8,268 at the 90th percentile. Being aware of these valuation processes in Boring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boring Assessed Value
$593,950
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 Boring, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97009 | $471,440 | $505,440 | $593,950 | $683,710 | $787,540 |
Source: Ownwell
Property Tax Bills Across Boring, Oregon
Property tax bills in Boring, located in Multnomah County, Oregon, are calculated based on the assessed value of a property, which is often different from its market value. The assessed value is determined by the county assessor and takes into account factors such as property size, location, and improvements. Homeowners in Boring face a median property tax bill of $6,052, which is significantly higher than the national median property tax rate of 0.99%. Factors like local tax rates, school district funding, and municipal services also influence the final tax bill. For instance, the 25th percentile tax bill in Boring is $4,659, while the 75th percentile reaches $6,671, and the 90th percentile can be as high as $8,268. These variations reflect differences in property values and local levies. Higher property taxes can impact homeowners by increasing annual housing costs, but they also contribute to community services and infrastructure, enhancing the overall quality of life in the area.
Average Boring Tax Bill
$6,052
Average Multnomah County Tax Bill
$5,046
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Boring, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97009 | $3,499 | $4,659 | $6,052 | $6,671 | $8,268 |
Source: Ownwell