Assessment & Taxation

What is Measure 50?

It is a constitutional amendment that limits the taxes a property owner will pay. Voters approved the measure in May, 1997.

How does it work?

• Rolled back the 1997-98 assessed (taxable) value of each property to 90 percent of its 1995-96 value. This is known as Maximum Assessed Value (MAV). Adjustments to MAV are made for items such as new construction.

• Limits future growth on assessed value to 3 percent a year, with exceptions for items such as new construction, remodeling, new subdivisions, and rezoning.

• Established permanent tax rates for all local districts with existing tax bases and serial levies.

• Allows voters to approve new short-term local option levies to fund additional services or approve bond measures for capital improvements. These are outside the permanent rate limits, and need to be approved at a general election or an election with at least a 50% turnout (double majority).

• Taxes are based on the lower of real market value (RMV) or maximum assessed value (MAV), which is known as assessed value (AV).

Example:

1995-96 200,000 AV

CUT 1997-98 200,000 AV x .90 180,000 AV

CAP 1998-99 x 103% 1999-00 x 103% 2000-01 x 103% 2001-02 x 103% 2002-03 x 103% 2003-04 x 103% 2004-05 x 103% 2005-06 x 103% 2006-07 x 103% 2007-08 x 103% 2007 - 241,905

CAP 2008-09 241,905 x 103% 249,162

x Permanent Rate for Each District = Taxes

Plus Bonds

Plus Local Option Levies

>How would I appeal my property value?

If you disagree with the VALUE of your property as shown on your tax statement, you may file an appeal with your county Board of Property Tax Appeals. You can get petition forms and information from the County Clerk by calling (503) 655-8662.

A reduction in RMV will not mean a reduction in taxes unless the RMV is reduced below the AV - except in situations such as new construction and remodeling, if RMV is lowered then AV is reduced and taxes are decreased.

(Note: Some properties may experience a small refund, particularly where there are school local option levies, when RMV approaches AV due to the Measure 5 tax rate limits.)