Understanding and Appealing Your Property Taxes
Multnomah County mailed property tax statements this week, so be on the lookout for yours.
Property taxes in Oregon are downright confusing! While some states (such as California) base taxes on the most recent sale price, Oregon’s taxes are not directly related to sale prices, but rather the county assessor’s determination of the value of your home. Multiple statewide ballot measures have turned the process into a confusing system, but the taxes are basically based on the opinion of people who have never been inside your home.
So, how do they know what your house is worth if they have not been inside? That’s a tough question to answer, but what we do know is that if you want to appeal your taxes, you have to file an appeal by December 31. If something looks incorrect, or your taxes went way up and you don’t know why, you need to act fast.
What should you look for? Well, generally-speaking, if your taxes go up by more than 3% in a year, this is a red flag. It could be that a new bond measure took effect which could raise them a bit more than 3%, but if you look at last year’s amount and this year’s amount, and the difference is more than 3%, this is a sign that something big could have changed in terms of how the county is valuing your home.
You can also look at your home’s Real Market Value, or RMV, which is toward the top left of the statement. If the RMV looks a lot higher than it should be, this is another indication that you might want to dig further.
Does this feel overwhelming? Call us, and we can pull up your statement online (they are all on the county website) and we can tell you our assessment of your home’s Real Market Value. We can also connect you with qualified consultants who manage the appeal process.
We have personal experience successfully appealing our own taxes, and we’d be happy to share our expertise. Reach out ASAP so we can help you to get started.
Multnomah County Tax Assessor Website
503-988-2225
propertytax@multco.us