97205 Property Tax Rate

Property owners in ZIP code 97205 (Portland, Oregon) pay a median of $10,001/year in property taxes on homes valued at $693,600. This translates to an effective tax rate of 1.44%, which is 95% above the Oregon state average of 0.74%.

The monthly property tax burden for a median-valued home in 97205 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Multnomah County. This is $7,006 more than the Oregon average of $2,995/year.

Compared to similar ZIP codes in Oregon, 97205 has higher property taxes. ZIP codes with similar effective rates include 97201 (1.37%) and 97239 (1.34%).

In Portland, property taxes represent approximately 17.0% of the median household income of $58,943, providing context for the relative tax burden on homeowners in this area.

Oregon's Measure 50 resets assessed value to market value at sale, then limits annual increases to 3%; Multnomah County will establish your new tax base at the purchase price. Multnomah County administers senior and disabled homeowner exemption programs with specific income and age requirements — contact the Multnomah County Assessor's office to confirm eligibility. Apply for any exemptions with the Multnomah County Assessor within 30 days of purchase and request your tax statement to confirm your assessed value baseline and any exemption offsets.