King City, Oregon Property Taxes
The median property tax rate in King City, OR is 1.25%, significantly higher than both the national median of 0.99% and the Oregon state median of 0.91%. With the median home value in King City, the typical annual property tax bill reaches $6,523, far exceeding the national median of $2,690. Property taxes in King City 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 King City'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 King City 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
King City, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s King City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in King City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in King City 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 King City, Oregon
Property taxes in King City, Oregon, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in King City is 1.12%, which is higher than both the Oregon state median of 0.90% and the U.S. national median of 0.99%. Local government entities within King City set these rates annually, and they can vary significantly across different neighborhoods. Each year, King City 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 King City's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97224 zip code has the highest median property tax rate of 1.12%, while the same 97224 zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with King City 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 King City Tax Rate
0.99%
Average Washington County Tax Rate
0.93%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across King City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97224 | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across King City, Oregon
In King City, 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 Appraisal District 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 King City, 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 King City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $6,478, found in zip code 97224.
Average King City Assessed Value
$651,830
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 King City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97224 | $651,830 | $651,830 | $651,830 | $651,830 | $651,830 |
Source: Ownwell
Property Tax Bills Across King City, Oregon
In King City, located in Washington County, OR, property tax bills are calculated based on the assessed value of the home rather than its market value. The assessed value is determined by the county assessor and may differ significantly from the market price. For instance, the median home price in King City is $651,830. However, the tax bill does not directly correlate with this market value. The property tax rate in King City is influenced by various factors, including local government budgets, school funding, and public services. Homeowners in King City face a median property tax bill of $6,478, which is significantly higher than the national median property tax rate of 0.99%. This relatively high tax bill can impact homeowners by increasing their annual housing costs, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their finances accordingly.
Average King City Tax Bill
$6,478
Average Washington County Tax Bill
$4,896
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across King City, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97224 | $6,478 | $6,478 | $6,478 | $6,478 | $6,478 |
Source: Ownwell