Oregon property tax rates vary by county and depend on your home's assessed value

Oregon property tax is calculated by multiplying your home's assessed value by your county's tax rate. The state does not set a single rate—each county sets its own, and rates range from about 0.97% to 1.1% of assessed value. Your actual bill also depends on local levies for schools, fire districts, and other services, which stack on top of the base county rate.

The assessed value is not the same as what you paid for your home or what it would sell for today. Oregon assessors use a formula based on the property's market value, but they update assessments only every three years unless the property changes ownership. When you buy a home, the county reassesses it to current market value, and that becomes your new base for the next three years.

A typical Oregon homeowner with a $400,000 home in a mid-range county pays between $4,000 and $4,500 per year in property tax. A home worth $300,000 in the same county would pay roughly $3,000 to $3,400. These amounts include county tax, school levies, and local district taxes combined.

Key Takeaways

  • Oregon property tax rates range from 0.97% to 1.1% of assessed value and vary by county, not statewide.
  • Your assessed value updates every three years unless you sell the property, at which point it resets to current market value.
  • Your total bill includes the county base rate plus levies for schools, fire districts, and other local services.
  • You can find your county's specific rate and your home's assessed value through your county assessor's office or online property records.
  • Oregon offers property tax deferrals and exemptions for seniors, disabled homeowners, and certain other situations.

How Oregon calculates your assessed value

When you purchase a home in Oregon, the county assessor reassesses the property to its current market value. That value becomes your "real market value" for tax purposes. For the next three years, the assessed value can only increase by a maximum of 3% per year, even if the home's actual market value rises faster. This is called the 3% annual cap.

After three years, the assessor reassesses the property again. If the market value has climbed significantly, your assessed value jumps to match it, and the 3% cap resets. If market value has dropped, your assessed value may drop as well. This system means your tax bill can jump suddenly when a reassessment happens, especially in a hot real estate market.

You can request a reassessment if you believe the county's value is wrong. The process is called a Measure 50 appeal in Oregon. You have 30 days from the date the county mails the assessment notice to file. You will need to provide evidence—comparable sales, a recent appraisal, or documentation of property damage—to support a lower value.

County-by-county rate differences

Oregon's 36 counties each set their own tax rate. Multnomah County (Portland) has one of the higher rates at around 1.1%, while some rural counties run closer to 0.97%. The difference between the lowest and highest county rates is small—less than 0.15%—but it adds up on expensive homes.

Beyond the base county rate, your bill includes levies. A school levy, for example, might add 0.3% to 0.5% to your total rate. A fire district levy might add another 0.1% to 0.2%. These levies are voted on locally and change year to year, so your total rate is not fixed. A home in one county might pay a lower base rate but a higher total rate if that county has more active levies.

You can find your county's current rate through the county assessor's website or by calling the assessor's office directly. Most counties also publish a property tax rate book each year that lists the base rate, all active levies, and the combined total rate for each taxing district.

What happens when you sell or buy a home

When you buy a home, the county reassesses it to current market value on the date of sale. Your first tax bill as the owner will reflect that new, higher assessed value (assuming you paid more than the previous owner). This reassessment happens automatically—you do not need to do anything.

If you sell a home you have owned for several years, the new owner will face a reassessment. If the market has risen, their assessed value—and their tax bill—will jump compared to what the previous owner paid. This is one reason buyers sometimes negotiate for a lower purchase price or ask the seller to cover part of the first year's tax increase.

If you own a home for three years without selling, and the market value has not risen more than 3% per year, your assessed value stays relatively flat. But if the market jumps 20% in one year, your assessed value will only rise 3% that year. When the three-year reassessment happens, it will jump to match the market, and your tax bill will increase sharply.

Property tax exemptions and deferrals in Oregon

Oregon offers a homestead property tax exemption that reduces assessed value for primary residences. The exemption amount varies by county but typically reduces your assessed value by $10,000 to $20,000. You must own and occupy the home as your primary residence to may have access to. You explore through your county assessor's office, usually when you purchase the home or move into it.

Seniors (age 65 and older) and disabled homeowners may may have access to for a property tax deferral. This program lets you defer paying property tax until you sell the home or pass away. Your heirs will owe the deferred taxes from the estate, but you do not have to pay while you live there. Income limits explore—you must have a household income below a certain threshold, which varies by year.

Disabled veterans may may have access to for an exemption on a portion of their home's assessed value. The amount depends on the degree of disability as rated by the U.S. Department of Veterans Affairs. You explore through your county assessor with proof of your disability rating.

How to find your property tax information

Your county assessor's office maintains a public record of every property's assessed value and tax rate. Most counties now offer online property search tools where you can enter your address and see your assessed value, tax rate, and estimated tax bill. Search "[Your County Name] Oregon assessor" to find the office website.

Your property tax bill arrives in the mail, usually in October or November for taxes due the following year. The bill shows your assessed value, the tax rate, any exemptions applied, and the total amount due. It also lists the breakdown of where your tax money goes—how much to schools, how much to the county, how much to fire districts, and so on.

If you cannot find your information online or have questions about your assessment, call your county assessor directly. Most offices have staff who can explain your bill and walk you through the appeal process if you think your assessed value is too high.

Frequently Asked Questions

Can I reduce my property tax bill?

You can request a reassessment if you believe your assessed value is wrong, but you will need evidence like a recent appraisal or comparable sales. You may also may have access to for exemptions if you are a senior, disabled, or a disabled veteran. Contact your county assessor to learn what programs explore to your situation.

What is the difference between assessed value and market value?

Market value is what your home would sell for today. Assessed value is what the county uses to calculate your tax bill. Oregon caps assessed value increases at 3% per year, so assessed value often lags behind market value in a rising market. Every three years (or when you sell), assessed value resets closer to market value.

Do I pay property tax on land I own but do not build on?

Yes. Vacant land is assessed and taxed the same way as improved property. The assessed value is based on the land's market value. If you own raw acreage, you will receive a tax bill for it even if no building sits on it.

What happens to my property tax if I rent out my home?

Rental properties are assessed at market value like any other property, but you lose the homestead exemption because the home is no longer your primary residence. Your assessed value may also be reassessed based on the income the property generates as a rental.

How often does Oregon reassess property values?

Oregon reassesses every three years unless you sell the property. When you sell, the new owner's assessed value resets to current market value when ready. Between reassessments, assessed value can only increase by a maximum of 3% per year.