97224 Property Tax Rate

Property owners in ZIP code 97224 (Portland, Oregon) pay a median of $5,527/year in property taxes on homes valued at $579,400. This translates to an effective tax rate of 0.95%, which is 29% above the Oregon state average of 0.74%.

The monthly property tax burden for a median-valued home in 97224 is approximately $461, which factors into escrow payments on mortgages. This ZIP code is located within Washington County. This is $2,532 more than the Oregon average of $2,995/year.

Compared to similar ZIP codes in Oregon, 97224 has higher property taxes. ZIP codes with similar effective rates include 97335 (0.95%) and 97213 (0.95%).

In Portland, property taxes represent approximately 5.9% of the median household income of $94,456, providing context for the relative tax burden on homeowners in this area.

Oregon's Measure 50 resets your assessed value to market value at sale, then limits annual increases to 3%; Washington County will establish your new tax base at the purchase price. Washington County administers senior and disabled property tax relief programs — contact the Washington County Assessor's office to confirm your eligibility and required income documentation. Apply for any available exemptions with the Washington County Assessor within 30 days of closing and request your Notice of Assessment to verify your assessed value baseline.