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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 and 23.

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 billion.

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.

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