Walk It Through: The Tax Bill And The County
A value that looks high, a petition by December 31, and taxes left unpaid.
The tax statement comes in the fall, and the value on it looks high.
Two things a person in this spot might do. Picking one shows what the law says about it.
One home and its tax bill. Appeals beyond the board to the Tax Court, exemptions and deferrals, and the notices sent before a redemption period ends are not worked through here.
A practice walkthrough, not a prediction of how any real one will go. Legal information, not legal advice.
Words this turns on
Terms with a legal meaning that is narrower than the everyday one. Each links to the definition and the authority behind it.
- AgentThe person a power of attorney names to act for the principal, who has to use the principal's property for the principal's benefit unless the document provides otherwise.
- Assessed valueThe value most Oregon property is taxed on: the lesser of its maximum assessed value and its real market value.
- Maximum assessed value103 percent of the prior year's assessed value, or 100 percent of the prior year's maximum assessed value, whichever is greater.
- Power of attorneyA written document in which a principal names someone as agent. With no words delaying or limiting when it takes effect, it is effective when executed, and the agent may go on acting even after the principal becomes financially incapable.
- Property value appeals boardThe county board an owner, or someone obligated to pay the taxes, may petition for a reduction from the time the tax statements are mailed until December 31. It adjourns no later than April 15.
- Redemption periodThe two years after a judgment of foreclosure for taxes during which the county holds the property and anyone with an interest in it at the date of the judgment, their heirs or devisees, or a lienholder of record, may redeem it by paying the full amount under the judgment with interest, plus a penalty of five percent and a fee of $50 or more.