Property Tax Information
Cities do not assess, bill, or collect property taxes in Oregon, but rather counties perform these functions. Contact the County that you reside in for information about property taxes. Most of the City of Lake Oswego is in Clackamas County (with smaller portions in Multnomah and Washington Counties). Their websites have handy information on the following property tax subjects:
- Your Property Tax Bill
- Understanding Your Tax Statement
- Receiving your Property Tax Bill
- Payment Options
Your respective County mails out all property tax statements towards the end of October every year. If you receive a yellow tax statement it means that your mortgage company via your impound escrow account is expected to pay your taxes. If you receive a green tax statement it means that the property owner is expected to pay the tax.
Property Tax Rates
Property taxes are assessed using a levy rate on each $1,000 of assessed valuation. They are classified into three levy types: permanent rate levy for general purpose operations, local option serial levies for specific purposes approved by voters, and bonded debt levies approved by the voters for payment of general obligation bonded debt principal and interest. The City’s permanent rate levy is a function of its permanent tax rate applied to its assessed value. The City’s bonded debt levy is determined by the amount sufficient to cover the principal and interest payments of its general obligation debt service. Currently, the City has no local option serial levies in place.
The City's permanent tax rate authority is different for properties inside or outside of the Lake Oswego School District (LOSD). The permanent tax rates maximum per $1,000 of Assessed Value are 5.0353 and 4.5884, respectively.
The tax rates levied by the City of Lake Oswego are shown in the table below. The City tax rate for properties inside the Lake Oswego School District is less than the permanent maximum rate authorized.
|Inside School District||Outside School District|
The bonded debt rate calculated to fund the City's outstanding bonded debt service payments for the 2019-20 fiscal year is 0.2461, which equates to a net levy of $1,762,000.
For more information on the City's property taxes, click on the link to budgets below and go a City Budget, then to the Financial Trends and Property Taxes section of the City's Budget document.