Lake Oswego, Multnomah County, Oregon Property Taxes
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
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.28%
Estimate Property Tax Bill
$6,876
$6,381
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.
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
1.02%
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
$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
$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 | $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
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
$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 | $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 | |
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| Appeal Deadline | December 31 |
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