Lake Oswego, Multnomah County, Oregon Property Taxes

Name: Property Tax Bills Across Lake Oswego, Multnomah County, Oregon
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lake Oswego, OR effective property tax rate: 1.28%, significantly higher than the national median of 1.02%, but lower than the Oregon state median of 0.86%.
Median Lake Oswego, OR home value: $536,950
Median annual Lake Oswego, OR tax bill: $6,956, $4,556 higher than the national median property tax bill of $2,400.

How are property taxes in Multnomah County calculated?

Property taxes in Lake Oswego, OR are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Lake Oswego’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Oswego, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lake Oswego, Multnomah County, Oregon Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.28%

Estimate Property Tax Bill

$6,873

$6,378

Ownwell’s Lake Oswego Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Oswego with just two data points. By entering your property's estimated assessed value, our calculator applies Lake Oswego’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Multnomah County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake Oswego, Multnomah County, Oregon

Local government entities determine tax rates, which can significantly differ across a state. This variation arises because counties annually assess their budgetary needs for public services and divide this by the total assessed value of all taxable properties in their area. This process determines the property tax rate. While voting and legislation play roles in shaping these rates and budgets, this is the essence of the yearly procedure.

In Lake Oswego, located in Multnomah County, property tax rates present a unique landscape when compared to other cities in Oregon. With a median property tax rate of 1.28%, Lake Oswego's rate is higher than the national median of 1.02%. The highest median tax rate in Lake Oswego is also 1.28%, while the lowest median tax rate is 1.13%, reflecting the diversity within the city itself. This comparison highlights how property tax rates in Lake Oswego contrast with both state and national figures, offering a glimpse into the local fiscal environment.

Property Tax Rates Across Lake Oswego, Multnomah County, Oregon

Source: Ownwell

0.74%

1.27%

1.81%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lake Oswego Tax Rate

1.28%

Median Effective Multnomah County Tax Rate

1.07%

Median Effective Oregon Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake Oswego, Multnomah County, Oregon

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
97034	0.83%	0.95%	1.13%	1.34%	1.46%
97035	1.04%	1.19%	1.28%	1.44%	1.56%

Source: Ownwell

Property Tax Assessment Values Across Lake Oswego, Multnomah County, Oregon

When examining property taxes in Lake Oswego, OR, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Multnomah County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Multnomah County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake Oswego. For example, the median home price in Lake Oswego is $536,950, with tax bills ranging significantly across the county. The zip code 97034 has the highest median home price at $1,213,545.

Property Tax Assessment Values Across Lake Oswego, Multnomah County, Oregon

Source: Ownwell

$140,700

$677,123

$1,213,545

Median Lake Oswego Market Value

$536,950

Median Multnomah County Market Value

$496,670

Median Oregon Market Value

$438,140

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake Oswego, Multnomah County, Oregon

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
97034	$692,443	$907,248	$1,213,545	$1,516,882	$1,797,961
97035	$234,820	$279,662	$494,075	$768,348	$939,696

Source: Ownwell

Property Tax Bills Across Lake Oswego, Multnomah County, Oregon

In Lake Oswego, located in Multnomah County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, improvements, and market conditions influence the assessed value. Homeowners in Lake Oswego face a median property tax bill that can vary significantly, ranging from $3,704 at the 25th percentile to $13,989 at the 90th percentile. The highest median tax bill in the area reaches $13,697 in the 97034 zip code, while the lowest is $6,518 in the 97035 zip code. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Lake Oswego residents often pay higher property taxes. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions, potentially reducing their tax burden and ensuring they are not overpaying.

Property Tax Bills Across Lake Oswego, Multnomah County, Oregon

Source: Ownwell

$1,850

$8,708

$15,566

Median Lake Oswego Tax Bill

$6,956

Median Multnomah County Tax Bill

$5,046

Median Oregon Tax Bill

$3,628

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake Oswego, Multnomah County, Oregon

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
97034	$6,780	$9,118	$13,697	$17,778	$21,420
97035	$2,659	$3,653	$6,518	$10,376	$13,247

Source: Ownwell