Property Taxes in Lake Oswego, Oregon
Median Lake Oswego, Oregon effective property tax rate: 1.28%, significantly higher than the national median of 1.02%, and higher than the Oregon state median of 0.87%.
Median Lake Oswego, Oregon home value: $537,190
Median annual Lake Oswego, Oregon tax bill: $6,971, $4,571 higher than the national median property tax bill of $2,400.
How are property taxes in Multnomah calculated?
Property taxes in Lake Oswego, Oregon 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 April 13, 2026
How Does the Lake Oswego Property Tax Calculator Work?
Use this Lake Oswego property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lake Oswego's median effective tax rate of 1.28% — based on actual property records in Multnomah County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lake Oswego's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lake Oswego: rates range from $6,535 in 97035 to $14,043 in 97034, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake Oswego.
About Lake Oswego Property Taxes
About Property Taxes in Lake Oswego, Multnomah, Oregon
Lake Oswego's median effective property tax rate of 1.28% is higher than the Oregon state median of 0.87% and higher than the national median of 1.02%. This rate reflects the Multnomah County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Lake Oswego. Homeowners in the 97035 ZIP code carry a median effective rate of 1.28%, while those in 97034 pay 1.13%. This spread — 0.15 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Multnomah County. Understanding which part of Lake Oswego you live in can make a meaningful difference to your annual tax bill.
Lake Oswego homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the December 31, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lake Oswego, Multnomah County, Oregon
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake Oswego's effective property tax rate to other cities in Oregon and the median property tax rates in Oregon and the U.S.
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%
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 Multnomah County Tax Rate
1.07%
Median Effective Oregon Tax Rate
0.87%
Median Effective United States Tax Rate
1.27%
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, Oregon, 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.
Assessment notices:
In Multnomah County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of October.
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. The median home price in Lake Oswego is $537,190, with tax bills ranging significantly across the county. Zip code 97034 has the highest median home price at $1,229,085.
Property Tax Assessment Values Across Lake Oswego, Multnomah County, Oregon
Source: Ownwell
$5,470
$617,278
$1,229,085
Median Lake Oswego Market Value
$537,190
Median Multnomah County Market Value
$496,160
Median Oregon Market Value
$450,850
Median United States Market Value
$274,101
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 | $910,558 | $1,229,085 | $1,523,655 | $1,892,201 |
| 97035 | $234,820 | $278,530 | $494,420 | $768,270 | $939,632 |
Source: Ownwell
Property Tax Bills Across Lake Oswego, Multnomah County, Oregon
Property tax bills in Lake Oswego are calculated by applying the local property tax rate to a home’s assessed value, which is based on the market value of the property and the taxing districts that apply. The assessed value is the key figure used to determine what a homeowner owes, and it can change as market conditions shift or as local levies are updated.
For many homeowners, the bill reflects more than just the home itself. It also depends on the county and other local services funded through property taxes. With a median home price of $537,190, tax bills in the area can vary widely, showing how different assessments and district charges affect what households pay.
The typical property tax bill in this area is well above the national median property tax bill of $2,400, which can make ownership costs feel heavier for homeowners. Bills in the area range from $3,704 at the 25th percentile to $10,752 at the 75th percentile, with the 90th percentile reaching $14,046.
Median Lake Oswego Tax Bill
$6,971
Median Multnomah County Tax Bill
$5,059
Median Oregon Tax Bill
$3,806
Median United States Tax Bill
$3,209
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 | $14,043 | $17,847 | $21,528 |
| 97035 | $2,668 | $3,653 | $6,535 | $10,410 | $13,335 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | December 31 |
Links | |
|---|---|
| Multnomah Tax Assessor | |
| Website | multcoproptax.com |