Monday I posted about Portland property tax bills increasing due to constitutionally prescribed increases in assessed values and voter-approved levies and bond measures. The question remains “When is it a good idea to appeal my property taxes?”

First, the Board of Property Tax Appeals only considers assessed valuations.

• It can not determine the amount of tax to be assessed, nor can it consider financial hardship as a basis for changing an assessment.
• Appeals will only be heard for current year values, which is why the only way to affect the Maximum Assessed Value (MAV) on improvements is to appeal the Real Market Value (RMV) of those improvements in the year assessed.
  • The Maximum Assessed Value for improvements is derived by formula, which is discussed more completely at our Portland Home Team web site.
  • It makes sense to appeal an over-estimated Real Market Value for last year’s improvements because it affects both the property RMV and the MAV for improvements.
  • You cannot appeal the MAV later.
• Appeals must be filed between the time property tax bills are mailed and December 31st. BOPTA forms and instructions are available from the Oregon Department of Revenue Property Tax Division.
• If you miss the filing deadline or seek to appeal a prior year’s value, you may still be able to file an appeal with the Magistrate Division of the Oregon Tax Court. More information is available at the Oregon Tax Court’s web site.

So who should appeal their Oregon property valuation?

• You think the real market value of your Oregon property on January 1, 2009 was less than the assessed value (which is usually the MAV). A bargain purchase, such as from a relative or a distressed owner, will be valued at its fair market value, not necessarily what you paid for it.
• You disagree with the county’s valuation of new construction, remodeling, or other exceptions. Since these are not usually identified on the property tax statement, you will need to contact the county assessor to determine the value placed on any improvements.
• You think the Assessor’s Office made a calculation error in setting the Assessed Value.

Call us with your questions!

If your home or recent improvements are assessed for more than what you think they were worth on January 1, 2009, consider appealing your valuation. Call or email us any time if you think we can help.