Hubbard, Oregon Property Taxes
The median property tax rate in Hubbard, OR is 0.52%, considerably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Hubbard at $861,101, the typical annual property tax bill reaches $4,026, exceeding the national median of $2,690. Property taxes in Hubbard are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hubbard'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 Hubbard 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
Hubbard, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$4,478
Ownwell’s Hubbard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hubbard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbard 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 Hubbard, Oregon
Property taxes in Hubbard, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbard is 0.52%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Hubbard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbard 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 Hubbard's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97032 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Hubbard 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 Hubbard Tax Rate
0.52%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | 0.19% | 0.30% | 0.52% | 0.65% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Hubbard, Oregon
In Hubbard, 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 Hubbard, 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 Hubbard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 97032 zip code has the highest and lowest median tax bill at $4,026.
Average Hubbard Assessed Value
$861,101
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 Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | $131,240 | $585,606 | $861,101 | $1,272,028 | $1,722,517 |
Source: Ownwell
Property Tax Bills Across Hubbard, Oregon
In Hubbard, 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 often differs from the market value and is influenced by factors such as property size, location, and improvements. Homeowners in Hubbard can expect a wide range of property tax bills, with the 25th percentile at $2,703 and the 75th percentile reaching $5,274. The 90th percentile tax bill can go up to $7,236, indicating variability based on property characteristics and assessments. The highest median tax bill in the area is $4,026, which is notably higher than the national median property tax rate of 0.99%. This can impact homeowners by increasing their annual expenses, making budgeting for property taxes an essential part of homeownership in Hubbard. Understanding these factors and how they influence the overall tax bill helps homeowners anticipate their financial obligations and plan accordingly.
Average Hubbard Tax Bill
$4,026
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbard, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97032 | $902 | $2,703 | $4,026 | $5,274 | $7,236 |
Source: Ownwell