What is the “taxable value” of my property?

The “taxable value” of your property in Oregon is the amount of value that the county assessor determines will be used to calculate your property taxes. This amount is based on an assessment of your property that takes into account its actual value, any exemptions or credits you are eligible for, and any adjustments made by the assessor. The taxable value may be lower than the actual value of your property, depending on the exemptions you have applied for. For example, in Oregon, there are exemptions for people over the age of 65, disabled homeowners, veterans, and agricultural properties. Once the taxable value of your property has been determined, the county tax assessor will use it to calculate your taxes. The taxes for a property are calculated by multiplying the taxable value by the local property tax rates for the year. The rates are set by each county and may vary from year to year. It is important to note that the taxable value of your property is only used to calculate your taxes. It does not necessarily reflect the actual market value of your property. The actual market value is determined by professional appraisers and is impacted by factors like current market conditions and the condition of the property.

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What is the “taxable value” of my property?

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