Multnomah County Property Tax Rates
The Multnomah County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General | $1.2545 |
| Library | $0.3347 |
| County | $0.5479 |
| City | $1.3025 |
| School | $5.2190 |
| Metro | $0.1991 |
| Total Tax Rate | $8.8577 |
Note: These rates are subject to change and may vary depending on the specific property being assessed. It is important to consult with a licensed tax advisor for further information and guidance on property tax rates in Multnomah County.
Example of Multnomah County Property Tax Calculation
Multnomah County Property Tax is calculated based on the assessed value of a property. Here is an example of how it works:
Let's say there is a house in Multnomah County with an assessed value of $250,000. The tax rate for the area is 1.32%. To calculate the property tax, you would take the assessed value ($250,000) and multiply it by the tax rate (1.32%).
$250,000 x 1.32% = $3,300
So the property tax for that house would be $3,300 per year.
It's important to note that property taxes can vary depending on a variety of factors such as exemptions, special assessments, and changes in the tax rate. It's always a good idea to check with your local tax assessor's office for the most accurate information.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Multnomah County ?
In Multnomah County, property tax rates are set by the county government. These rates are established annually by the Board of County Commissioners, in accordance with state law. The rates are based on the assessed value of the property as determined by the County Assessor's Office. The tax revenue generated from these rates is used to fund various local services, such as schools, public safety, and infrastructure.
Here is a summary in markdown format:
Who sets property tax rates in Multnomah County?
The county government sets property tax rates in Multnomah County.
When are property tax rates set in Multnomah County?
Property tax rates are established annually by the Board of County Commissioners, in accordance with state law.
What determines property tax rates in Multnomah County?
Property tax rates in Multnomah County are based on the assessed value of the property as determined by the County Assessor's Office.
What is the purpose of property taxes in Multnomah County?
The tax revenue generated from property taxes in Multnomah County is used to fund various local services, such as schools, public safety, and infrastructure.
Homestead exemptions in Multnomah County ?
In Multnomah County, Oregon, there are various Homestead exemptions and deductions available to eligible homeowners. To help you navigate through them, we have compiled a table below. It includes four columns - exemption, eligibility, amount, and notes - to provide you with all the necessary information at a glance.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must be the primary resident of the property as of January 1st | Up to $50,000 of assessed value | |
| Senior Homestead Exemption | Must be 62 years or older as of July 1st and have a gross income less than $44,100 in 2021 | Up to $60,000 of assessed value | |
| Disabled Veteran's Exemption | Must be a veteran with a disability rating of 40% or more | Up to $27,000 of assessed value | |
| Surviving Spouse of a Veteran Exemption | Must be the surviving spouse of a veteran who died on active duty or as a result of a service-connected injury or illness | Up to $225,000 of assessed value | |
| Home Improvement Exemption | Must improve the property with at least $10,000 in construction costs and receive an increase in assessed value | Up to 100% exemption on the increased assessed value for 10 years | |
| Historic Property Exemption | Must be a historic property listed on the National Register of Historic Places | Up to 100% exemption on the assessed value of the historic improvements |
It's important to note that eligibility requirements and amounts may change from year to year, so it's always a good idea to check with the Multnomah County Assessor's Office for the most up-to-date information. Taking advantage of these exemptions and deductions can help reduce your property tax burden and make homeownership more affordable.
When is Multnomah County Property Tax due ?
Multnomah County Property Tax is typically due on November 15th of each year. The payment methods accepted for property taxes are as follows:
| Payment Method | Description |
|---|---|
| Online | Payments can be made online through the Multnomah County website using a credit card or e-check. |
| Payments can be sent by mail to the address listed on the tax statement. A check or money order should be included and made payable to Multnomah County Tax. | |
| In Person | Payments can be made in person at the Multnomah County Tax Office located at 501 SE Hawthorne Blvd., Suite 175, Portland, OR 97214. Cash, check, or money order are accepted. |
It is important to note that property taxes must be paid in full by the due date to avoid penalties and interest. If you are unable to pay the full amount by November 15th, you may be eligible for a payment plan. For more information on payment plans, please contact the Multnomah County Tax Office.
If you have more questions - contact your local tax collector.
How is Multnomah County Property Tax penalty calculated ?
Multnomah County Property Tax Penalty Calculation
Multnomah County has a property tax system that penalizes taxpayers who fail to pay their property taxes on time. The penalty calculation is based on the amount of tax owed and the length of time that the tax remains unpaid. Here is an example of how the penalty is calculated:
Suppose a taxpayer owes $5,000 in property taxes for the year 2021. The tax is due on November 15, 2021, but the taxpayer does not pay until December 31, 2021.
The penalty for late payment would be calculated as follows:
| Time Elapsed | Penalty Rate | Penalty Amount |
|---|---|---|
| 1-30 days | 5% | $250.00 |
| 31-60 days | 6% | $300.00 |
| 61-90 days | 7% | $350.00 |
| Over 90 days | 9% | $450.00 |
In this case, the penalty would be $1,350.00, which is calculated by adding up the penalty amounts for each time period:
$250.00 + $300.00 + $350.00 + $450.00 = $1,350.00
Therefore, the total amount due including the penalty would be $6,350.00.
It is important to note that if the taxpayer fails to pay their property taxes for an extended period of time, the property may be subject to foreclosure by the county.
In conclusion, Multnomah County's property tax penalty is calculated based on the amount of tax owed and the length of time the tax remains unpaid. The penalty rates increase as the time elapsed increases, and failure to pay property taxes can result in the loss of the property.
We recommend contacting the Multnomah County Tax Office or a local tax professional for the most up-to-date and accurate information.