League of Oregon Cities Back New Property Tax Plan
The League of Oregon Cities is supporting a move to peg a home’s property taxes to its market value, rather than its usually lower assessed value, whenever a home sells.
The change would boost property taxes on many properties when they sell. Currently, statewide, the assessed value of property averages 74 percent of its real market value.
The Oregon Association of Realtors has vowed to fight the move contending one house could sell several times in a neighborhood and have ever increasing taxes while another house could kept by the same owner for decades and have low taxes.
A change would require a voter approved amendment to the Oregon Constitution.
