What are the local and state laws surrounding property taxes?

Property taxes in Oregon are based on the assessed value of a property. Property taxes are used to fund local services such as schools, police and fire departments, and other city services. At the state level, the Oregon Department of Revenue is responsible for assessing the value of all real and personal property in Oregon. Local counties and cities then collect the taxes based on these assessments. The Department of Revenue also sets the tax rate, which is the amount of money each property owner must pay in taxes per dollar of assessed value. In addition to state level taxes, local counties and cities may also impose their own taxes on property. These taxes are usually based on the same assessed value, but their rates and amount of taxes paid can vary from area to area. Property taxes may also be increased or decreased based on any changes made to the property. In Oregon, the value of the property can be increased or decreased by up to 3% per year. Any changes made to the property may also affect the taxes owed. Finally, there are certain types of property that are exempt from taxes. These exemptions include properties owned by state or local governments, properties owned by certain charities, and certain types of agricultural land. In summary, property taxes in Oregon are based on the assessed value of the property, and are used to fund local services. The Oregon Department of Revenue sets the tax rate, and local counties and cities may also impose their own taxes in addition to the state rate. The value of the property may increase or decrease each year, and certain types of property may be exempt from taxes.

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What are the local and state laws surrounding property taxes?

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