Property Tax Millage Rate for Portland Neighborhoods
Posted by Bob Broad on Monday, October 18th, 2010 at 8:51am.
We just received a copy of the Property Tax Millage Rate for Multnomah County. Expecting big differences in millage rate by neighborhood. Not so much.
We are often asked how property taxes are computed and how to appeal tax assessments. Property taxes are the product of your property's Asessed Value and the millage rate for your neighborhood. Asessed Value is defined by Measure 50, the property tax measure.
Measure 50 has been on the books since 1997. It caps increases in Assessed Value to 3% per year if there are no property improvements. If you want to learn more about how Asessment works under Measure 50 or how to appeal your assessment, you might want to check out this presentation from the Oregon Department of Revenue. If you're thinking about appealing your assessment, you need to file your appeal before the end of the calendar year.
More questions? Feel free to give us a call.
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