Newberg Graphic Online

Values down, taxes up

Property taxes — Gap between assessed and real market values shrinks as market drops

• By: Amanda Newman  
• Published: 10/30/2009 4:38:51 PM

    Despite the down economy and real estate market, property values are still rising — at least, assessed values. And as those are the numbers Oregon homeowners are taxed on, the 2009 property tax statements, sent last week, likely did not bring good news.
    In Newberg, this year’s increase was an average 3.39 percent, according to Yamhill County assessor Scott Maytubby. But as of Jan.1, the date as of which taxes are assessed, home values in the Newberg area had dropped an average 8 percent.
    The disparate figures show the difference between the assessed value and the real market value. The average assessed value in Yamhill County is 40 percent lower than the real market value, according to Maytubby’s office. But while the real market value fluctuates with the housing market, the assessed value notches a three-percent increase each year, under 1997’s Measure 50. With the assessed value so divorced from the real market value even in a down market, most property taxes will increase 3 percent yearly.
    This year, the average Newberg taxpayer will pay 17.43 cents per thousand dollars of assessed value; the average Dundee residents will pay 15.05 cent per thousand.
    Maytubby explained that his office also “trended up” the market values of mobile homes, after finding that the county’s mobile home values were low compared to other similar markets. “It was a pretty good sum,” he said.
    Although no bonds or levies were approved over the last year in Newberg or Dundee, voters throughout the county approved levies for both their community colleges: Portland and Chemeketa. The PCC levy, which affects Newberg and Dundee voters, helped bring the increases to slightly more than the standard 3 percent.
    The tax increases may seem even more disproportionate to recent market changes because of the Jan. 1 assessment date, Maytubby explained.
    “The market has continued to decline, our sales have shown that, and taxes won’t reflect that until next year,” he said, adding that a heightened number of short sales this year have taken their toll on the local market. “A lot of that stuff hasn’t reflected yet.”
    Yamhill County sent statements to about 45,000 property owners and intends to collect about $99.04 million in taxes for the 41 taxing districts, which include schools, cities, fire districts, the county, special assessments and more. The sum is a 6 percent increase from last year, reflecting the 3-percent increase, various money measures throughout the county, and a small amount of new construction.
    The majority, as usual, goes to fund schools. Broken down, one Yamhill County property tax dollar gives 55 cents to education (K-12, community colleges, education service districts), 28 cents to neighborhood services provided by cities and special districts (police and fire protection, libraries, parks, urban road maintenance, and more), and 17 cents to county government services (public safety, road improvements, elections, public health and more).
    The first tax due date is next month, but taxpayers have several different payment options: pay in three installments, Nov. 16, Feb. 16 and May 17; pay two-thirds by the first date and the balance by the second for a 2-percent discount; or pay the sum up front for a 3-percent discount. The county does not send notices at the second and third due dates.
    Taxes can be paid online by visiting www.co.yamhill.or.us and using the “pay taxes online” option or over the phone by calling 877-309-3929.
    Property owners who have not received a tax statement by Sunday should call the assessor’s office at 503-434-7521. Taxpayers concerned their assessed or real market values may be too high should call the assessor’s office to discuss the basis for their property’s appraisal; if they choose, they may appeal. Appeals may be filed through Dec. 31; for more information, see the back of your tax statement.
    The assessor’s office will remain open during the lunch hour through Nov. 15.

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