Gresham, Oregon Property Taxes
The median property tax rate in Gresham, OR is 0.99%, aligning with the national median of 0.99% but higher than the Oregon state median of 0.86%. With the median home value in Gresham at $448,990, the typical annual property tax bill reaches $4,458, significantly exceeding the national median of $2,690. Property taxes in Gresham 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 Gresham'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 Gresham 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
Gresham, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$4,445
Ownwell’s Gresham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gresham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gresham 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 Gresham, Oregon
Property taxes in Gresham, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gresham is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Gresham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gresham 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 Gresham's effective property tax rate to other areas in Multnomah County and the national median. For comparison, the 97080 zip code has the highest median property tax rate of 1.01%, while the 97233 zip code has the lowest median tax rate of 0.85%. Understanding how these areas compare with Gresham provides valuable insights into the varying tax landscape across Multnomah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gresham Tax Rate
0.99%
Average Multnomah County Tax Rate
1.07%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gresham, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97024 | 0.24% | 0.37% | 0.39% | 0.52% | 0.52% |
| 97030 | 0.84% | 0.91% | 0.98% | 1.04% | 1.11% |
| 97080 | 0.82% | 0.93% | 1.01% | 1.09% | 1.18% |
| 97230 | 0.78% | 0.88% | 0.94% | 1.02% | 1.20% |
| 97233 | 0.48% | 0.48% | 0.85% | 0.96% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Gresham, Oregon
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gresham, Oregon. 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 Gresham, 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. For instance, the median home price in Gresham is $448,990, with tax bills ranging from $3,695 at the 25th percentile to $6,448 at the 90th percentile. The highest median tax bill is $12,858 in zip code 97024, while the lowest is $3,892 in zip code 97233. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, protest assessments, or apply for exemptions to manage their tax burden effectively.
Average Gresham Assessed Value
$448,990
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 Gresham, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97024 | $1,148,142 | $2,574,840 | $3,512,020 | $4,617,120 | $4,709,274 |
| 97030 | $223,119 | $344,562 | $405,210 | $467,850 | $532,398 |
| 97080 | $339,992 | $408,370 | $476,420 | $545,950 | $638,602 |
| 97230 | $378,340 | $411,808 | $455,450 | $573,238 | $716,158 |
| 97233 | $1,640 | $5,470 | $418,550 | $480,140 | $633,778 |
Source: Ownwell
Property Tax Bills Across Gresham, Oregon
In Gresham, located in Multnomah County, OR, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is used to calculate the tax bill, which is then influenced by the local tax rate. For Gresham, the median home price is $448,990, and the property tax rate is applied to this value to determine the annual tax bill. Several factors come into play when calculating the tax bill, including the property's assessed value, local levies, and any applicable exemptions. Homeowners in Gresham can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $3,695, while it rises to $5,352 at the 75th percentile, and can go as high as $6,448 at the 90th percentile. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Homeowners should be aware of these factors as they directly impact annual financial planning and the overall cost of owning a home in Gresham.
Average Gresham Tax Bill
$4,458
Average Multnomah County Tax Bill
$5,046
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Gresham, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97024 | $3,451 | $7,475 | $12,858 | $13,589 | $20,266 |
| 97030 | $2,339 | $3,322 | $3,992 | $4,700 | $5,497 |
| 97080 | $3,190 | $4,062 | $4,762 | $5,698 | $6,985 |
| 97230 | $3,066 | $3,885 | $4,528 | $6,372 | $7,861 |
| 97233 | $8 | $26 | $3,892 | $4,480 | $4,903 |
Source: Ownwell