Damascus, Oregon Property Taxes
The median property tax rate in Damascus, OR is 0.87%, slightly below the national median of 0.99% but just above the Oregon state median of 0.86%. With the median home value in Damascus at $618,452, the typical annual property tax bill reaches $5,572, which significantly exceeds the national median of $2,690. Property taxes in Damascus are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Damascus'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 Damascus 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
Damascus, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$5,381
$4,993
Ownwell’s Damascus Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Damascus with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Damascus to provide an accurate property tax bill estimate. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more localized information, neighborhood-level trends are available by scrolling down. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Damascus, Oregon
Property taxes in Damascus, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Damascus is 0.87%, slightly lower than the U.S. national median of 0.99%. Local government entities within Damascus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Damascus 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 Damascus's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97089 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Damascus 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 Damascus Tax Rate
0.87%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Damascus, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97089 | 0.68% | 0.79% | 0.87% | 1.03% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Damascus, Oregon
In Damascus, 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 Damascus, 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. For instance, the median home price in Damascus is $618,452, with tax bills ranging from $4,537 at the 25th percentile to $7,031 at the 75th percentile, and $8,866 at the 90th percentile. The highest and lowest median tax bills are both $5,572 in the 97089 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Damascus Assessed Value
$618,452
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 Damascus, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97089 | $365,126 | $509,250 | $618,452 | $789,132 | $1,065,716 |
Source: Ownwell
Property Tax Bills Across Damascus, Oregon
In Damascus, Clackamas County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Damascus stands at $618,452, and the property tax rate is a crucial factor in determining the overall tax burden for homeowners. For instance, the tax bill for the 25th percentile of homes is $4,537, while the 75th percentile reaches $7,031. At the 90th percentile, the tax bill can go up to $8,866. These figures highlight the variability in tax bills based on home values and the specific tax rate applied. The highest median tax bill in the area is $5,572, found in the 97089 zip code. Homeowners in Damascus should be aware that their property tax bills can significantly impact their annual expenses, making it essential to understand how these taxes are calculated and the factors influencing them.
Average Damascus Tax Bill
$5,572
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Damascus, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97089 | $3,487 | $4,537 | $5,572 | $7,031 | $8,866 |
Source: Ownwell