Corbett, Oregon Property Taxes
The median property tax rate in Corbett, OR is 0.63%, noticeably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Corbett at $527,341, the typical annual property tax bill amounts to $3,175, surpassing the national median of $2,690. Property taxes in Corbett 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 Corbett'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 Corbett 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
Corbett, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$3,322
$3,083
Ownwell’s Corbett Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Corbett using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corbett to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Clackamas County for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Corbett, Oregon
Property taxes in Corbett, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corbett is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Corbett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corbett 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 Corbett's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97019 zip code has the same median property tax rate of 0.63%. Understanding how these cities compare with Corbett 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 Corbett Tax Rate
0.63%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corbett, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97019 | 0.46% | 0.52% | 0.63% | 0.69% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Corbett, Oregon
In Corbett, 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 Corbett, 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 Corbett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Corbett, the highest median tax bill is $3,175 in the 97019 zip code, which is also the lowest median tax bill in the area.
Average Corbett Assessed Value
$527,341
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 Corbett, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97019 | $96,091 | $335,875 | $527,341 | $715,651 | $997,785 |
Source: Ownwell
Property Tax Bills Across Corbett, Oregon
In Corbett, located in Clackamas County, OR, property tax bills are calculated based on the assessed value of a property, not its market value. The assessed value is determined by the county assessor and typically reflects a percentage of the market value. Homeowners in Corbett can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,060, while the 75th percentile tax bill is approximately $4,267. At the 90th percentile, tax bills can reach up to $5,776. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions or abatements. The highest median tax bill in Corbett is $3,175, which is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Corbett may face higher property tax burdens compared to other regions. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Corbett Tax Bill
$3,175
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Corbett, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97019 | $892 | $2,060 | $3,175 | $4,267 | $5,776 |
Source: Ownwell