Increased property tax revenue allows Multnomah County to receive 4.8% more; Portland 8%.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Increased property tax revenue allows Multnomah County to receive 4.8% more; Portland 8%.
In total, the county expects $1.5 billion more than last year.
Multnomah County taxes going for the Metro regional government decreased by 10.7 percent, but the city of Gresham will collect 3.1 percent more than it did last year, according to county figures. Individual bills are the product of varying districts and their changes.
Taxpayers can receive a 3 percent discount if the full property tax amount is paid or postmarked by Nov. 16. Taxes can also be paid (without discount) in three installments, due Nov. 16, Feb. 16 and May 16, the county said. Taxpayers can appeal the real market value or assessed value of their property through Dec. 31.
The median assessed value in the county is $169,170 for the new tax year. The amount such a household owes depends on where in the county it is. The taxes on the median assessed value range from $2,236 in unincorporated Corbett to $4,000 on Portland’s east side.
(SOURCE: OregonLive.com)
Meanwhile, Portland is expecting a windfall of its own.
“As the market values dropped over the last few years, the difference between the market and assessed values became closer,” says Rich Hobernicht, director of Washington County assessment and taxation. “In some cases, this caused compression.
“As the market value increases, the difference between the market and the assessed values may increase as well. This reduces the chance for compression, but can also increase your tax liability if compared to a prior year’s tax that was in compression.”
(SOURCE: Portland Tribune)
