Will my property taxes drop if I buy a house below market value?

A commentary by Yamhill County Tax Assessor Scott Maytubby for The News Register, published November 7, 2009.

Despite the fact that we receive tax statements in the mail every fall, most people are not aware of how Oregon’s property tax system works. If you are like the vast majority, you probably just pay your taxes and never question the amount or the values on the statement.

This year, however, lots of people are asking how their property taxes can go up when the real market value of their homes is going down. This is a good opportunity for me, as Yamhill County’s new assessor, to explain how the property tax system works. Continue reading “Will my property taxes drop if I buy a house below market value?”