Overview of Oregon Taxes
Oregon has property tax rates that are slightly above the national average. The effective property tax rate in Oregon is 0.78%, while the U.S. average currently stands at 0.89%. However, specific tax rates can vary drastically depending on the county in which you settle down.
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- About This Answer
To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
Oregon Property Tax
Property taxes in Oregon are limited by two laws passed during the 1990s: Measure 5 and Measure 50. Combined, these two measures put caps on both the total effective tax rate that can be applied to any individual property as well as the growth in assessed values, on which taxes are based.
Thanks to these limits, Oregon now has property taxes that are just under the 0.89% national average. More specifically, Oregon's effective property tax rate is 0.78%. That means the median homeowner in Oregon pays around 0.78% of their home's value in property taxes each year.
If you’re thinking about purchasing a home in the Beaver State or are looking to refinance a property there, check out our Oregon mortgage guide for details about getting a mortgage.
A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
How Oregon Property Taxes Work
As in many states, local assessors in Oregon annually appraise properties to determine their fair market value. However, taxes in Oregon do not necessarily apply only to market value. Instead, they apply either to the market value or the maximum assessed value, whichever is lower.
The most important aspect of the maximum assessed value is that so long as it is less than market value (which it usually is), it is limited to 3% annual growth. That means that even when home values are skyrocketing, property taxes should remain relatively stable.
If market value falls below maximum assessed value, the maximum assessed value may freeze or increase by less than 3%. So, for example, if market value and maximum assessed value are both $100,000, and market value increases by 2%, then both market value and maximum assessed value will be $102,000 the following year. On the other hand, if market value increases by 10%, the maximum assessed value will be $103,000 (a 3% increase) while market value will be $110,000.
Oregon Property Tax Rates
Just as Oregon limits the value to which tax rates apply, the state also limits tax rates. For any single property, total school district taxes cannot be more than $5 per $1,000 in market value and total general government taxes cannot be more than $10 per $1,000 in market value. (The limits do not apply to bond levies, which voters must approve.)
Thus, in practice, effective tax rates (annual taxes as a percentage of home value) in Oregon are limited to 1.5% ($15 of tax per $1,000 of property value), plus any bond levies. If rates on any property exceed that amount, tax rates on that property are lowered (or “compressed”) until the total rates no longer exceed the limits. If the taxes on a property are up against that limit (or “in compression”), taxes on that property cannot increase, even if everyone else's taxes increase.
The table below shows the average effective tax rate for every county in Oregon with available data. Average effective tax rates are calculated as median annual property tax as a percentage of median home value.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
Multnomah County
Oregon’s Multnomah County, which encompasses most of the city of Portland, has property taxes that are well above the statewide median. The median homeowner in Multnomah County pays $5,539 per year in property taxes, which is significantly more than the typical homeowner statewide pays. The effective tax rate in this part of Oregon is 0.98%.
If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Portland can help you out.
Washington County
Effective tax rates in Washington County are roughly equal to those in neighboring Multnomah County. The Washington County effective tax rate is 0.84%. At that rate, a home valued at $610,700 (near the median home value in the county) would have annual taxes of $5,122.
Clackamas County
Clackamas County stretches from southern Portland suburbs to Mt. Hood and the Cascade Mountains. It is a largely suburban and rural county. The largest city here is Lake Oswego, which has a population of about 40,000. The median annual property tax homeowners in Clackamas County pay is $5,196, the highest in the state.
Lane County
Western Oregon’s Lane County is bordered on the west by the Pacific Ocean and on the east by the Willamette National Forest. About half of the county’s population resides in the city of Eugene, which is home to the main campus of the University of Oregon.
According to the U.S. Census Bureau, the median home value in Lane County is $448,000, which is moderately lower than the $497,500 state median. The effective tax rate in Lane County is 0.77%, which equates to a median annual property tax bill of $3,438.
Marion County
Marion County has among the highest effective property tax rates in Oregon (0.79%). The typical homeowner here will pay about $3,471 per year in property taxes.
Jackson County
Situated along the California border in Southern Oregon, Jackson County has property tax rates in the bottom half of all Oregon counties. Jackson County’s effective tax rate is 0.74%. The typical property owner pays $3,326 per year in taxes, slight above the national median ($3,211).
Deschutes County
Deschutes County is located in central Oregon, east of the Cascade Crest. The largest city in Deschutes is Bend, which sits along the Deschutes River. The median property taxes paid by homeowners in Deschutes County is $3,938.
Linn County
This western Oregon county has an effective property rate of 0.82%. The median home in Linn County is worth $417,300 and the typical property tax bill is $3,409.
Douglas County
Based on population statistics, Douglas County is ninth-largest county in Oregon. The effective property tax rate in Douglas County is 0.59%, far lower than rates in Oregon’s most populous counties.
Yamhill County
Located southwest of Portland, Yamhill County has an effective property tax rate (0.70%) somewhat lower than other counties in the Portland area. The median property tax paid by homeowners in Yamhill County is $3,410 per year.
