What is the property tax rate in Portland?

Portland's effective property tax rate is roughly 1.05% of real market value, though the exact figure varies by neighborhood and the levies that apply. Multnomah County combines city, county, school, and special-district levies into the consolidated rate on your bill.

Why is my taxable value lower than my home's market value?

Oregon's Measure 50 caps the maximum assessed value and limits its annual growth to 3%. Over time, market value usually outpaces this cap, so the assessed value that actually gets taxed is typically well below what your home would sell for.

How do market value and assessed value differ?

Real market value is what your home would sell for. Assessed value is the lower, Measure-50-capped figure used to compute tax. Because the cap limits growth to 3% per year, long-held homes often have assessed values far below market value.

Are there exemptions that lower my bill?

Oregon offers limited programs such as senior and disabled deferrals and veteran exemptions, but there is no broad homestead exemption like some states. Most Portland homeowners are taxed on the full Measure-50 assessed value with no standard reduction.

Is this estimate exact?

No. It is a planning estimate based on a typical effective rate and the Measure 50 cap. Your actual bill depends on your specific levy code, voter-approved bonds, and your home's individual assessed value. Check your county tax statement for the precise figure.

Portland Property Tax Estimator

Property tax in Portland is shaped by Oregon’s unusual Measure 50 system, which taxes a capped assessed value rather than full market value. This estimator applies the local effective rate to give a realistic annual bill.

How it works

The tax is the effective rate times the taxable assessed value. Because of Measure 50, assessed value is usually well below market value:

if you enter market value:
    assessed_value ~= market_value * assessed_ratio   (Measure 50 cap, ~0.70)
else:
    assessed_value = the value you entered
annual_tax = assessed_value * effective_rate          (~1.05%)
monthly    = annual_tax / 12

The assessed ratio reflects how Measure 50’s 3% annual cap has historically held assessed values below fast-rising market values. Enter your assessed value directly for a more precise result.

Example

A home with a $500,000 market value and a 0.70 assessed ratio has a taxable value near $350,000. At a 1.05% effective rate the annual tax is about $3,675, or roughly $306 per month in escrow.

Notes

The effective rate and assessed ratio are typical Portland figures, not your exact levy code. Voter-approved bonds and special districts vary by location. Use your county tax statement’s assessed value and consolidated rate for the most accurate result.