Do I have to pay interest on overdue property tax?
Interest is charged on any past due installment(s) for the schedule you are following. By Oregon law (ORS 311.505), the interest rate is 1.333% per month or fraction of a month until paid.
FAQ Topic: Property taxes
When is my property tax payment due?
Property taxes may be paid in installments using one of the following schedules: Full payment — Pay the “Full Payment” amount on or before November 15 and receive a 3% discount. Two-third payment — Pay the “2/3 Payment” amount on or before November 15 and receive a 2% discount. The final one-third payment is due by May … Continued
When will I receive my property tax statements?
Tax statements are mailed on or before October 25, to each property owner in the county. If you do not receive your statement by November 1, please call the Tax Department at (541) 565-3623.
I recently bought my house and have not done any work to it. Why was Exception value added?
Property values and taxes on real property are tied to the property, not the owner. The previous owner may have done work to the property that was discovered at the time of sale.
What is a property tax “exception event”?
Ballot Measure 50 limits Maximum Assessed Value (MAV) increases to 3% per year except under certain circumstances including, but not limited to: New construction/additions of more than $10,000 in one year or $25,000 over 5 years Remodel or significant rehabilitation of more than $10,000 in one year or $25,000 over 5 years Partitioning or subdivision … Continued
How is my Maximum Assessed Value (MAV) determined?
Maximum Assessed Value (MAV) was established by Ballot Measure 50 for the 1997-1998 tax year. MAV is the greater of 103% of the prior year’s assessed value (AV), or 100 percent of the prior year’s MAV, whichever is greater. MAV’s for properties that existed prior to 1995 were set based on the 1995-1996 Real Market … Continued
Why did my Assessed Value increase so much?
Your Assessed Value (AV) can increase for two reasons: An Exception Event Or if your previous year’s Real Market Value was lower than your Maximum Assessed Value and now your Real Market Value is more than your Maximum Assessed value. If so, you may see a jump in your Assessed Value, depending on how low … Continued
How is my Assessed Value (AV) determined?
Assessed Value (AV) is the lower of last year’s Maximum Assessed Value (MAV) plus 3%, or the current Real Market Value (RMV). This value provides the baseline for your tax-bill calculation.
How do I pay my property taxes?
You’ll find an information sheet on our Property Tax Payment Options page, with details for mail, phone, and online payment options. Online payments also can be made on Sherman County’s PointandPay.net page.