Photo: Bernard Gagnon / Wikimedia Commons, CC BY-SA 3.0
Property tax statements go out in Oregon in late October, and the first payment is due on November 15. Lincoln County owners who understand the deadline and the discount can save a little, and those who understand how the bill is built can tell whether it is right.
Paying
Oregon offers a discount for early payment. Paying the full year by November 15 earns a 3 percent discount. Paying two-thirds by then earns 2 percent, with the rest due in May. Owners can also pay in thirds, due November 15, February 15 and May 15, with no discount. If the 15th falls on a weekend or holiday, the deadline moves to the next business day. Lincoln County’s tax office takes payment online, by mail, in person in Newport and through a drop box; check the county’s site for details.
Two values on your statement
Your bill shows a real market value and an assessed value. Real market value is what the assessor estimates the property would sell for. Assessed value is the number most taxes are calculated on, and it is often lower. That is the result of Measure 50, approved by voters in 1997, which reset assessed values and limited their growth to 3 percent a year, except when new construction or other changes are added.
The Measure 5 limits
Measure 5, approved in 1990, caps taxes for schools at $5 per $1,000 of real market value and for general government at $10 per $1,000. If a property’s taxes would exceed those limits, they are reduced, a process called compression. Voter-approved bonds for things like school buildings are outside the limits.
If you disagree
Owners who think the real market value is wrong can appeal to the county’s Property Value Appeals Board. The deadline is December 31, and the assessor’s office can explain the process. For who receives the money on your bill, see our guide to local government.
Silas Kerrigan covers business, the tourism economy and household finance in Lincoln County.
