How does the market value given on the property tax statement compare with what the property would actually sell for?
Oregon Revised Statute (ORS) 308.232 requires the assessor to appraise each piece of property at 100 percent of the real market value as of the assessment date (January 1 preceding mailing the tax statement). However, with over 27,000 accounts it would be impossible to accurately appraise each property every year. Typically, an appraised value can be five percent high or low and still be considered accurate. While our values are as accurate as possible and should provide some indication of what your property would sell for, a better indicator would be to hire an independent appraiser.
