CA Prop 10

BAGB · July 27, 2018, 5:57am

Oregon property tax: 8 times better than Prop 13

In Oregon, every, every property owner pays property tax based on 1995 value minus 10% with 3% annual increase. This is the paradise for property tax. Given enough time and high appreciation, property tax will be essentially repealed over many years. When can we have everyone’s tax bill indexed to 1978 value? Prop 13 missed out the new buyers. In 1997 measure 50 was passed. This is Oregon’s current property tax law and it completely changed the way taxes are calculated. Measure 50 calculates property taxes by taking the 1995 value of your home, subtracting 10 percent, and then adding 3 percent per year until the present. The number created is called the home’s Maximum Assessed Value (MAV). 1995 value of home – 10% + 3$/year = MAV If you have a new home with no ‘95 value, your home’s MAV is calculated using other similar properties in the same county. The 3 percent increase per year still applies. The basic premise of the law is that your property’s value will rise faster than i…