Cascade Locks, Multnomah County, Oregon Property Taxes
The median property tax rate in Cascade Locks, OR is 1.24%, considerably higher than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Cascade Locks at $140,700, the typical annual property tax bill reaches $1,850, which is below the national median of $2,690. Property taxes in Cascade Locks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cascade Locks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cascade Locks 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
Cascade Locks, Multnomah County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,745
$1,619
Ownwell’s Cascade Locks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cascade Locks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascade Locks 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 Cascade Locks, Multnomah County, Oregon
Property taxes in Cascade Locks, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascade Locks is 1.24%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Cascade Locks set these rates annually, and they can vary across different neighborhoods. Each year, Cascade Locks 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 Cascade Locks' effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97014 has the highest median property tax rate of 1.24%, while the lowest median tax rate in the same zip code is also 1.24%. Understanding how these cities compare with Cascade Locks provides valuable insights into the varying tax landscape across Hood River County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascade Locks Tax Rate
1.24%
Average Multnomah County Tax Rate
1.07%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascade Locks, Multnomah County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97014 | 0.85% | 1.16% | 1.24% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Cascade Locks, Multnomah County, Oregon
In Cascade Locks, 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 Multnomah 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 Cascade Locks, 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 Cascade Locks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 97014 has both the highest and lowest median tax bills, each at $1,850.
Property Tax Assessment Values Across Cascade Locks, Multnomah County, Oregon
Source: Ownwell
$140,700
$677,123
$1,213,545
Average Cascade Locks Assessed Value
$140,700
Average Multnomah County Assessed Value
$496,670
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascade Locks, Multnomah County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97014 | $69,556 | $92,942 | $140,700 | $248,825 | $448,503 |
Source: Ownwell
Property Tax Bills Across Cascade Locks, Multnomah County, Oregon
In Cascade Locks, property tax bills are calculated based on the assessed value of a property, which is determined by the local county assessor. The assessed value is typically a percentage of the market value, reflecting the property's worth in the current real estate market. Factors such as location, size, and property condition play a crucial role in determining this value. Once the assessed value is established, the tax rate set by Multnomah County is applied. This rate is influenced by local government budgets and voter-approved measures. For example, with the median home price in Cascade Locks at $140,700, the tax bill can vary significantly. The 25th percentile tax bill is around $1,095, while the 75th percentile reaches up to $3,374, and the 90th percentile can go as high as $5,475. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the community's overall quality of life.
Average Cascade Locks Tax Bill
$1,850
Average Multnomah County Tax Bill
$5,046
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascade Locks, Multnomah County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97014 | $710 | $1,095 | $1,850 | $3,374 | $5,475 |
Source: Ownwell