Lake Oswego, Washington County, Oregon Property Taxes
Median Lake Oswego, OR effective property tax rate: 0.72%, significantly lower than the national median of 1.02%, but lower than the Oregon state median of 0.86%.
Median Lake Oswego, OR home value: $866,290
Median annual Lake Oswego, OR tax bill: $7,022, $4,622 higher than the national median property tax bill of $2,400.
How are property taxes in Washington 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, Washington County, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.72%
Estimate Property Tax Bill
$6,237
$5,788
Property Tax Rates Across Lake Oswego, Washington County, Oregon
Local government entities set property tax rates, which can vary significantly within a state. Each county estimates its required budget annually to fund services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
Lake Oswego in Washington County, Oregon, has a unique property tax landscape. Its effective property tax rate is slightly below the state median of 0.72%, offering a more favorable tax environment compared to other areas in Oregon. When compared to the national median property tax rate of 1.02%, Lake Oswego's rate is notably lower, providing potential savings for property owners. This can be particularly appealing for those seeking a balance between quality services and manageable tax expenses. The relatively low tax rate in Lake Oswego can be an attractive factor for homeowners and investors looking to maximize their property's value while minimizing tax liability.
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
0.72%
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 Washington County Tax Rate
0.93%
Median Effective Oregon Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Oswego, Washington County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97035 | 0.55% | 0.64% | 0.71% | 0.82% | 0.91% |
| 97034 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lake Oswego, Washington 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 Washington 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 Washington County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 $866,290, with tax bills ranging significantly across the county. Zip code 97035 has the highest median home price at $901,155.
Property Tax Assessment Values Across Lake Oswego, Washington County, Oregon
Source: Ownwell
$264,670
$594,470
$924,270
Median Lake Oswego Market Value
$866,290
Median Washington County Market Value
$529,930
Median Oregon Market Value
$438,140
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Oswego, Washington County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97035 | $288,275 | $543,518 | $901,155 | $1,091,345 | $1,133,132 |
| 97034 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lake Oswego, Washington County, Oregon
In Lake Oswego, Washington County, OR, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Factors such as location, property size, and improvements can influence this value. Homeowners in Lake Oswego face a median property tax bill of $7,022, significantly higher than the national median of $2,400. This discrepancy highlights the importance of understanding property tax calculations and seeking potential savings.
Ownwell offers a solution for homeowners looking to reduce their property tax burden. By analyzing property assessments and market conditions, Ownwell identifies opportunities for appeals and exemptions, potentially lowering tax bills. With expertise in local tax regulations, Ownwell provides a tailored approach to ensure homeowners only pay their fair share. This service is invaluable in a region where property tax bills can reach up to $8,292, offering significant savings for those eligible for adjustments.
Median Lake Oswego Tax Bill
$7,022
Median Washington County Tax Bill
$4,896
Median Oregon Tax Bill
$3,628
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Oswego, Washington County, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97035 | $2,213 | $4,213 | $7,022 | $7,023 | $8,445 |
| 97034 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell