There are a variety of reasons for the differences in taxes and they vary from property to property. There may exemptions or special assessments involved. Value differences may also result due to the quality of:
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Residential and rural properties are appraised under a mass appraisal system that conforms to State laws and Administrative Rules. Values-based on market sales are established for each property, as well as a reduced Measure 50 (M50) value. That value, called the Maximum Assessed Value (MAV), is the 1995 to 1996 tax year value less than 10%. That value may not increase by more than 3% each year.
Residential and rural properties are appraised using a market-related cost approach. Sales of properties within a given market area, or an area of similar properties, are compiled and analyzed to develop the data used to appraise all similar properties within that given area. Once these values are established, they are monitored yearly using sales that occur within these areas by comparing those sales prices to their Real Market Value (RMV). If the average property sales price is higher than the RMV, the properties in that area are adjusted to reflect the change in the market.
Construction on your ’new’ home probably began after January 1st. Because January 1st is the assessment we cannot tax you for the property that was not in existence on that date. That portion of your house that is complete on January 1st of the next year will appear on your next tax statement.
Cost and value are not always the same thing. Our conclusion of Real Market Value (RMV) is based on what the property would sell for in an open market transaction. Not everyone can build their own home; those who can benefit from not paying labor costs and see these savings reflected in the sales price of their property.
If the Assessor’s Real Market Valye (RMV) for the new addition is less than $10,000 the value will be added to your RMV only. Under the M50 guidelines, you will not be assessed or taxed for additions under $10,000 unless they fall under the 5 year $25,000 category.
Blacktop is approximately half the value of concrete.
Yes, both are taxable.
Yes. All in-ground gunite, fiberglass, and vinyl lined pools are taxable. A building permit is not required for the actual pool itself. However, electrical and mechanical permits are required. Since many property owners do not obtain the required permits, it is typically upon discovery that most pools are added to the assessment roll. All outdoor pools receive a 50% seasonal use discount. Above ground, pools are not taxable, but extensive wood decking or concrete may be.
No. You must contact an independent fee appraiser for your loan appraisal.
No you do not. However, without a physical appraisal, we will use the best information available to us and the resulting Real Market Value (RMV) may not be a true reflection of your property.
Yes, appraiser field inspections are usually made between January 1st and June 30th. Reviews may be requested during this time but values will reflect the condition of the property as of the January 1st assessment date. ORS 308.204 allows the Assessor to make changes to reduce values in the fall after values have been certified on September 25th. Receipt of the fall tax statement is typically why a property owner requests a value review. Before an action can be taken, a Value Modification Review Request form needs to be filed with the Assessor explaining the reason for the review.
If the property owner is not satisfied with the Assessor’s recommendation, an appeal may be filed with the Board of Property Tax Appeals (BOPTA) by December 31st.
First, our assessments are based upon a ’mass’ appraisal system; one sale does not set the market. Second, conditions of the sale and whether it was an arms-length transaction are also factors to be considered.
Yes. You must file an application with the Assessor and provide documentation of the error.