|County's property tax revenues continues growth in 2020 posted on 11/01/2020|
(MT) – Property tax revenues increased by 4.47 percent in
Clackamas County this year, rising to $962,182,559, according to a press
release from the county’s Department of Assessment & Taxation. Tax
statements were mailed to 178,506 real and personal property owners on Oct. 22
The $41.1 million increase in property taxes is generated
from new construction, voter approved money measures and the three percent
increase in assessed value under Measure 50 (M50).
Real market value in Clackamas County grew five percent this
year, continuing a growth trend that started in 2013, although the growth rate
for 2020 was at a slightly lower rate than in the past few years.
Property taxes in Oregon pay for local services. In
Clackamas County, property taxes support 130 local government districts,
including 18 school districts, 16 cities, 13 fire districts, 12 urban renewal
agencies and the county. Other taxing districts providing services include
water, public safety, the Port of Portland and Metro. Tax code areas on your
statement identify the unique mix of taxing districts for your location, there
are 365 different tax code areas in Clackamas County.
Real market value of all property in Clackamas County,
including new construction, totaled $86 billion for Jan. 1, 2020, up from $81.9
billion in 2019. Taxable value grew by 5.0 percent, from $53.1 billion to $55.8
The average real market value of a single-family home is
$488,376 and the median value is $425,969. The average taxable value is
$312,744 and the assessed value of an average home is equal to about 64 percent
of its real market value. The Assessor’s values on tax statements are as of
Jan. 1, 2020 and reflect market changes from Jan. 1, 2019 to Jan. 1, 2020. The
values do not reflect changes in the real estate market after the assessment
date of Jan. 1, 2020.
Property owners typically see a three percent increase in
taxes due to M50’s constitutional limitation of assessed value growth. This
year some areas are below three percent where districts levied less for bonded
debt, while in other areas taxes are greater than three percent due to voter
approval of new money measures.
Approximately 50,000 property owners will see tax increases
between zero and two percent, 51,000 between two and three percent, 45,000 will
see increases greater than three percent due to new money measures and
approximately 14,000 will see taxes reduced.
Under Measure 5’s tax limitation (M5), tax savings have
decreased for many property owners throughout Clackamas County over the past
several years due to the steady increase in real market value. For properties
in North Clackamas and Lake Oswego School districts, new local option levies
approved in 2019 increased tax and triggered compression for the districts.
Compression limits or reduces the tax property owners would otherwise pay
without the M5 limitations. M5 tax reductions grew from $6.7 million in 2018 to
$12.1 million in 2019 to $13.1 million in 2020. This year 34,000 accounts
received some savings as a result of the M5 limits, an increase of 762 accounts
over last year.
People can register at Clackamas.us/at for a virtual Town
Hall from either 1-3 p.m. or 6-8 p.m. on Tuesday, Nov. 10.
If you have questions regarding the values on your tax
statement, please call county appraisal staff at 503-655-8671. Taxpayers can
file value appeals with the Board of Property Tax Appeals (BOPTA) through Dec.
31. BOPTA’s phone number is 503-655-8662.
Full payment of taxes is due by Nov. 16, to receive a three
percent discount. A two percent discount is given if a two-thirds payment is
received by Nov. 16. No discount is allowed on a one-third payment on Nov. 16,
with additional one-third payments due on Feb. 16 and May 17, 2021.