Portland, Oregon Property Taxes
The median property tax rate in Portland, OR is 0.41%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Portland at $1,500,820, the typical annual property tax bill reaches $4,014, surpassing the national median of $2,690. Property taxes in Portland are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Portland'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 Portland 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
Portland, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$6,153
$5,710
Ownwell’s Portland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portland 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 Portland, Oregon
Property taxes in Portland, Oregon, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 0.41%, significantly lower than the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other counties in Oregon and the national median. For comparison, the zip code 97231 has both the highest and lowest median property tax rate of 0.41%. Understanding how these cities compare with Portland provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portland Tax Rate
0.41%
Average Columbia County Tax Rate
0.75%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97231 | 0.19% | 0.31% | 0.41% | 0.50% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Oregon
In Portland, 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 Columbia County Appraisal District 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 Portland, 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 Portland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Portland, the zip code with the highest median tax bill is 97231, with a tax bill of $4,014. The lowest median tax bill is also in zip code 97231, amounting to $4,014.
Average Portland Assessed Value
$1,500,820
Average Columbia County Assessed Value
$443,380
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97231 | $468,820 | $720,100 | $1,500,820 | $1,700,218 | $2,087,440 |
Source: Ownwell
Property Tax Bills Across Portland, Oregon
In Portland, located in Columbia County, property tax bills are calculated based on the assessed value of the home rather than its market value. The assessed value is determined by local tax authorities and often differs from the market value, which is the price a property would fetch in the open market. Factors such as location, property size, and improvements can influence the assessed value. Homeowners in Portland can expect a range of property tax bills depending on their property’s assessed value. For instance, the 25th percentile tax bill stands at $3,015, while the 75th percentile reaches $6,557, and the 90th percentile even goes up to $7,590. The highest median tax bill recorded in the area is $4,014, which is significantly higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their annual financial planning and potentially affecting the affordability of living in the area.
Average Portland Tax Bill
$4,014
Average Columbia County Tax Bill
$3,263
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97231 | $2,259 | $3,015 | $4,014 | $6,557 | $7,590 |
Source: Ownwell