BN21_Financial_Trends_Prop_Tax_Graphs_online_AdoptedPROPERTY TAXES
Inside L.O.
School Dist.
Outside L.O.
School Dist. Total
Prior year's actual assessed value, 2018‐19 $7,315,757,246 $382,239,817 $7,697,997,063
Plus estimated increases in assessed value:
General growth @ 3%219,146,207 11,205,149 230,351,356
Estimation for new construction 72,786,029 ‐ 72,786,029
Less urban renewal agency's estimated excess
assessed value over its frozen tax base (383,969,279) ‐ (383,969,279)
2019‐20 estimated assessed value $7,223,720,203 $393,444,966 $7,617,165,169
Tax rate:
Permanent tax rate authority (5.0353 / 4.5884)Gross levy Net Levy
Proposed tax rate levied 4.9703 4.5884 @ 100% @ 94%
2019‐20 permanent taxes levied $35,904,056 $1,805,283 $37,709,339 35,446,000$
2019‐20 bonded debt tax rate and bonded debt levy 0.2461 $1,874,468 1,762,000
Total net levy (estimated current property taxes to be collected, excluding delinquencies) 37,208,000$
Inside L.O.
School Dist.
Outside L.O.
School Dist. Total
Prior year's estimated assessed value, 2019‐20 $7,607,689,482 $393,444,966 $8,001,134,448
Plus projected increases in assessed value:
General growth @ 3%227,904,174 11,541,304 239,445,478
Projection for new construction 75,697,470 ‐ 75,697,470
Less urban renewal agency's projected excess
assessed value over its frozen tax base (405,418,353) ‐ (405,418,353)
2020‐21 projected assessed value $7,505,872,773 $404,986,270 $7,910,859,043
Tax rate:
Permanent tax rate authority (5.0353 / 4.5884)Gross levy Net Levy
Projected tax rate levied 4.9703 4.5884 @ 100%@ 94%
2020‐21 permanent taxes levied $37,306,439 $1,858,239 $39,164,678 36,814,000$
2020‐21 bonded debt tax rate and bonded debt levy 0.2447 $1,936,170 1,820,000
Total net levy (projected current property taxes to be collected, excluding delinquencies) 38,634,000$
Property Taxes
Proposed Fiscal Year 2019‐20 Calculation
Property Taxes
Proposed Fiscal Year 2020‐21 Calculation
FINANCIAL TRENDS - PROPERTY TAXES
This graph provides some insight into the growth of the City of Lake Oswego's assessed value since fiscal year 2000‐01. The trend
shows that assessed value continues to climb. The estimation of the assessed value starts with the previous year’s assessed value
and adds three factors: a growth factor (maximum allowed by law is 3%), an allowance for new construction, and an allowance for
annexed property. The assessed value now reflects about 63% of the real market value.
The above chart reflects the property tax rates applicable to the City's portion of property taxes. These rates show the bonded debt
rate separately and exclude the rates for other taxing authorities such as education and the county. By applying these rates to every
$1,000 of assessed value, the amount of property taxes paid to the City can be estimated. For example, the rate of $5.22 equates to
$522 per $100,000 of assessed value; accordingly, an average home with an assessed value of $485,000 will pay about $2,532 of its
total property tax bill for City services.
$0
$750,000
$1,500,000
$2,250,000
$3,000,000
$3,750,000
$4,500,000
$5,250,000
$6,000,000
$6,750,000
$7,500,000
$8,250,000
Total Assessed Value (000's) for the City of Lake Oswego
$0
$1
$2
$3
$4
$5
$6
$7
5.25 5.24 5.22 5.22
5.46 5.55
5.77 5.87 5.80 5.72 5.70 5.70 5.62 5.58 5.58 5.57 5.54 5.40 5.35 5.31
Property Tax Rates (the City's portion)
Bonded Debt Rate City's Base Rate