No, sale does not change property tax.
If you buy a new house today for 600k and a comparable home nearby is taxed at 150k, your tax base would be 150k as well.
Oregon people love low tax. I think we misjudged Oregonians
Here is the history how Oregon people reduced their property tax through 3 ballot measures. Oregon people are actually conservatives in terms of tax.
This is the best counter example to show those Prop 13 haters. Home appreciation has nothing to do with Prop 13. Property tax can be zero.
Timeline for property taxes from 1990 to now:
Until 1990, property taxes in Oregon were calculated as they are in most of the country, via a percentage of the market value of your home. Oregonians thought this was too high.
In 1990, Measure 5 was passed in an attempt to lower taxes.
Measure 5 capped property taxes at 1.5% of the property’s market value. As property values began to climb, this cap still wasn’t enough. Taxes became too high once again.
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