Oak Grove, Oregon Property Taxes
The median property tax rate in Oak Grove, OR is 0.88%, slightly lower than the national median of 0.99% but above the Oregon state median of 0.86%. With the median home value in Oak Grove at $525,932, the typical annual property tax bill reaches $4,905, significantly surpassing the national median of $2,690. Property taxes in Oak Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oak Grove'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 Oak Grove 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
Oak Grove, Oregon Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Oak Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Grove 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 Oak Grove, Oregon
Property taxes in Oak Grove, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Grove is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Oak Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Grove 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 Oak Grove's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97267 has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Oak Grove 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 Oak Grove Tax Rate
0.88%
Average Clackamas County Tax Rate
0.92%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97267 | 0.82% | 0.85% | 0.88% | 0.93% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Oak Grove, Oregon
In Oak Grove, 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 Oak Grove, 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 Oak Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97267 has the highest median tax bill at $4,905, which highlights the importance of understanding property tax assessments in this area.
Average Oak Grove Assessed Value
$525,932
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 Oak Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97267 | $481,485 | $484,125 | $525,932 | $633,417 | $824,009 |
Source: Ownwell
Property Tax Bills Across Oak Grove, Oregon
In Oak Grove, property tax bills are calculated based on the assessed value of a home, which is determined by the Clackamas County Assessor. The assessed value is typically a percentage of the market value, adjusted annually to reflect changes in the real estate market. Homeowners in Oak Grove can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $4,389, while the 75th percentile reaches $5,478, and the 90th percentile can be as high as $7,325. These tax bills are influenced by various factors, including the property's location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Oak Grove's property taxes can be substantial, impacting homeowners' annual budgets. The highest median tax bill in the area is $4,905, found in the 97267 zip code. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Oak Grove Tax Bill
$4,905
Average Clackamas County Tax Bill
$5,006
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Grove, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97267 | $4,283 | $4,389 | $4,905 | $5,478 | $7,325 |
Source: Ownwell