Canby, Oregon Property Taxes
The median property tax rate in Canby, 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 Canby at $529,240, the typical annual property tax bill reaches $4,538, significantly exceeding the national median of $2,690. Property taxes in Canby are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Canby'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 Canby 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
Canby, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$4,922
Ownwell’s Canby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canby 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 Canby, Oregon
Property taxes in Canby, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canby is 0.93%, which is slightly below the U.S. national median of 0.99%. Local government entities within Canby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canby 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 Canby's effective property tax rate to other areas in Clackamas County and the national median. For comparison, the zip code 97013 has both the highest and lowest median property tax rate of 0.93%, showcasing a uniform tax landscape within the region. Understanding how these areas compare with Canby 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 Canby 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 Canby, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97013 | 0.48% | 0.71% | 0.93% | 1.00% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Canby, Oregon
In Canby, 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 Canby, 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 Canby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Canby is $529,240, with the highest and lowest median tax bills both at $4,538 in the 97013 zip code.
Average Canby Assessed Value
$529,240
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 Canby, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97013 | $195,922 | $414,107 | $529,240 | $696,362 | $1,005,109 |
Source: Ownwell
Property Tax Bills Across Canby, Oregon
In Canby, located in Clackamas County, OR, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local tax assessor and may differ significantly from the market value. Property tax rates in Canby are influenced by several factors, including the local government budget, school funding, and public service requirements. For homeowners, this means that their annual tax bill can vary widely. For instance, the median home price in Canby is $529,240, and the property tax bills range significantly. Homeowners in the 25th percentile can expect a tax bill around $3,312, while those in the 75th percentile might see bills closer to $5,873. At the 90th percentile, tax bills can reach up to $7,131. The national median property tax rate is 0.99%, making it essential for Canby homeowners to understand how their local rates compare and plan their finances accordingly.
Average Canby Tax Bill
$4,538
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Canby, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97013 | $1,610 | $3,312 | $4,538 | $5,873 | $7,131 |
Source: Ownwell