Happy Valley, Oregon Property Taxes
The median property tax rate in Happy Valley, OR is 1.09%, which is significantly higher than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Happy Valley at $679,439, the typical annual property tax bill reaches $7,531, far exceeding the national median of $2,690. Property taxes in Happy Valley are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Happy Valley'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 Happy Valley 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
Happy Valley, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$7,406
$6,872
Ownwell’s Happy Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Happy Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Happy Valley 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 Happy Valley, Oregon
Property taxes in Happy Valley, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Happy Valley is 1.09%, higher than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Happy Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Happy Valley 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 Happy Valley's effective property tax rate to other areas in Clackamas County and the national median. For comparison, the 97015 zip code has the highest median property tax rate of 1.27%, while the 97089 zip code has the lowest median tax rate of 1.03%. Understanding how these areas compare with Happy Valley 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 Happy Valley Tax Rate
1.09%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Happy Valley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97015 | 1.22% | 1.27% | 1.27% | 1.28% | 1.28% |
| 97086 | 0.93% | 1.02% | 1.09% | 1.20% | 1.26% |
| 97089 | 0.46% | 1.03% | 1.03% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Happy Valley, Oregon
In Happy Valley, 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. Assessment notices in Happy Valley 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 Happy Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill of $7559 is in zip code 97086, while the lowest median tax bill of $4334 is in zip code 97015.
Property Tax Assessment Values Across Happy Valley, Oregon
Source: Ownwell
$83,950
$1,048,733
$2,013,515
Average Happy Valley Assessed Value
$679,439
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 Happy Valley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97015 | $313,362 | $316,232 | $333,702 | $366,132 | $370,317 |
| 97086 | $411,811 | $535,994 | $680,738 | $865,032 | $1,116,015 |
| 97089 | $415,257 | $528,077 | $528,077 | $528,077 | $576,941 |
Source: Ownwell
Property Tax Bills Across Happy Valley, Oregon
In Happy Valley, 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 typically lower than the market value and is adjusted annually. Factors such as property improvements, location, and market trends are considered when determining this value. The tax rate is then applied to the assessed value to calculate the annual property tax bill. For homeowners in Happy Valley, the property tax rate can significantly impact their finances. The median home price in the area is $679,439, and property tax bills vary widely. For example, the 25th percentile tax bill is $5,756, while the 75th percentile reaches $9,937. At the 90th percentile, homeowners may pay up to $12,497 annually. Comparatively, the highest median tax bill in the region is $7,559 in the 97086 zip code, while the lowest median tax bill is $4,334 in the 97015 zip code. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Happy Valley Tax Bill
$7,531
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Happy Valley, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97015 | $3,985 | $4,009 | $4,334 | $4,695 | $4,763 |
| 97086 | $4,300 | $5,789 | $7,559 | $9,948 | $12,507 |
| 97089 | $2,353 | $5,454 | $5,454 | $5,454 | $5,955 |
Source: Ownwell