Boring, Oregon Property Taxes
The median property tax rate in Boring, OR is 0.74%, which is notably lower than both the national median of 0.99% and Oregon's state median of 0.86%. With a median home value of $584,505 in Boring, the typical annual property tax bill amounts to $4,339, significantly surpassing the national median of $2,690. Property taxes in Boring are calculated based on the tax assessed value, which is often lower than 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 Clackamas 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
0.74%
Estimate Property Tax Bill
$4,325
$4,014
Ownwell’s Boring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boring 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 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 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Boring set these rates annually, and they can vary significantly 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. The data below compares Boring's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97009 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these areas compare with Boring 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 Boring Tax Rate
0.74%
Average Clackamas County Tax Rate
0.92%
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 | 0.52% | 0.64% | 0.74% | 0.83% | 0.95% |
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 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 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. The median home price in Boring is $584,505. For residents, the 25th percentile tax bill is $2,622, while the 75th percentile tax bill is $6,237. The highest and lowest median tax bill, both at $4,339, are found in the 97009 zip code. By understanding 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 Boring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boring Assessed Value
$584,505
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 Boring, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97009 | $50,365 | $344,318 | $584,505 | $841,235 | $1,167,371 |
Source: Ownwell
Property Tax Bills Across Boring, Oregon
In Boring, located in Clackamas County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate. For homeowners in Boring, the median home price is $584,505. Property tax bills can vary significantly, ranging from the 25th percentile at $2,622 to the 75th percentile at $6,237, with the 90th percentile reaching as high as $8,541. Factors influencing the tax bill include the property's assessed value and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $4,339, corresponding to zip code 97009. This variability in tax amounts means that homeowners need to be aware of their property's assessed value and local tax rates to understand their annual tax obligations. Compared to the national median property tax rate of 0.99%, the rates in Boring can present a significant financial consideration for homeowners.
Average Boring Tax Bill
$4,339
Average Clackamas County Tax Bill
$5,006
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 | $706 | $2,622 | $4,339 | $6,237 | $8,541 |
Source: Ownwell