Portland, Oregon Property Taxes
The median property tax rate in Portland, OR is 0.75%, significantly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $57,000 in Portland, the typical annual property tax bill is $425, which is far below the national median of $2,690. Property taxes in Portland are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as the primary residence exemption. Understanding Portland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Portland or another part of Lincoln County, grasping 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
0.75%
Estimate Property Tax Bill
$428
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 0.75%, which is 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 97202 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Portland provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portland Tax Rate
0.75%
Average Lincoln County Tax Rate
0.84%
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 |
|---|---|---|---|---|---|
| 97202 | 0.75% | 0.75% | 0.75% | 0.75% | 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 Lincoln 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. The highest and lowest median tax bills in Portland are both found in the 97202 zip code, each amounting to $425.
Average Portland Assessed Value
$57,000
Average Lincoln County Assessed Value
$341,090
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 |
|---|---|---|---|---|---|
| 97202 | $57,000 | $57,000 | $57,000 | $57,000 | $57,000 |
Source: Ownwell
Property Tax Bills Across Portland, Oregon
In Portland, Lincoln County, OR, property tax bills are determined based on the assessed value of the property, not its market value. The assessed value is typically lower than the market value and is calculated by the county assessor. Factors such as property size, location, and any improvements made to the property are considered in determining this value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the tax bill. In Portland, the median property tax rate is consistent with the national median of 0.99%. This means that for a median home price of $57,000, homeowners can expect a tax bill around $425, which falls in the 25th, 75th, and 90th percentiles for the area. The highest and lowest median tax bills in the region also stand at $425, indicating a uniform tax structure. For homeowners, understanding how these factors contribute to their tax bill is crucial for financial planning and property investment decisions.
Average Portland Tax Bill
$425
Average Lincoln County Tax Bill
$2,817
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 |
|---|---|---|---|---|---|
| 97202 | $425 | $425 | $425 | $425 | $425 |
Source: Ownwell