More than 47,000 Lincoln County property tax statements were mailed Thursday and are expected to arrive early next week.
Quinton Smith/Yachats News
It may not feel like it when you cut the check, but real estate value growth in Lincoln County has decreased significantly over the past three years.
Property tax statements were mailed to 47,261 accounts on Thursday, so homeowners and businesses can expect them to arrive in their mailboxes early next week. More than 9,500 of the statements were mailed to mortgage companies that pay taxes for people with loans.
davidson
The real market value of all properties in Lincoln County increased by 3.9 percent in 2023, said County Assessor Joe Davidson. The appraiser’s real market value numbers are based on 2023 real estate sales, including residential, multifamily, commercial and industrial properties.
This is significantly lower than the 16% increase in real market value in 2023 and the record 24% jump in 2022.
“It has increased, but at a much lower rate than before,” Davidson said.
Fortunately for check writers, property taxes are based on appraised value, not the actual price at which a home or other property is sold. Lincoln County property owners in areas where voters did not approve new taxes this year will pay an average of 52% of the real market value, or appraised value of their property.
Lincoln County This pie chart shows where Lincoln County property taxes are distributed among 17 classifications in 85 taxing districts, ranging from countywide school districts to more than a dozen local road districts.
Davidson said most property owners will not be able to do so under Ballot Act 50, the property tax restriction measure approved by Oregon, unless they live in Toledo or three small service districts where voters have approved a levy or bond. , said the taxable valuation would normally increase by 3%. Voters in 1997.
Lincoln County has 85 taxing districts, including school districts, health districts, cities, counties, ports, fire protection, water, roads, special assessment districts, and urban renewal districts.
Davidson says they all have distinctly different tax rates, and most have different geographic boundaries, so the overall tax rate for individual properties varies by location.
Each property tax statement shows the current and previous year’s property value, as well as the total amount charged by the individual taxing district. Prices for both years are categorized by land, structure, total real market value, and total appraised value.
make payment
The first property tax payment is due by November 15th. If you pay in full by then, you’ll get a 3 percent discount, and if you pay two-thirds, you’ll get a 2 percent discount.
If a property owner pays one-third, the second payment must be made by February 15th and the third payment by May 15th.
Lincoln County Lincoln County homeowners will pay nearly three-quarters of all property taxes in 2024.
Payments can be made electronically online, mailed with a valid postmark by Nov. 15, dropped off at a collection box in the county courthouse parking lot, or in person at the tax office in room 205 of the courthouse. can.
Davidson said property owners who dispute the value of their property are encouraged to contact the assessor’s office. Appraisal staff will have until Dec. 31 to answer questions and inspect properties for potential adjustments. Taxpayers also have the option of filing merit petitions with the Special Citizens Appeals Board until the end of the year, and 22 people did so in 2023.
The County Assessor’s Office and the Tax Collector’s Office are open Monday through Friday from 8:30 a.m. to 5:00 p.m. Davidson said most questions related to values and taxes can be answered by phone or email, and all assessors will be in the office next week to answer questions.
Increase compared to previous year
The 3.9% increase in real market values this year reflects the continued slowdown in real estate sales, but the rise varies widely by region. In the first seven months of this year, there were 1,016 home sales, followed by 1,593 in 2023 and 2,041 in 2022, Davidson said.
Properties sold in the Yachats area are expected to appreciate in value by 10 to 15 percent in 2023, Davidson said. Newport saw a 10% year-over-year increase, Waldport saw a 7% increase, and Waldport riverfront real estate grew by 13%. However, sales prices rose only 3 to 4 percent in Lincoln City, Toledo/Siletz, and South Beach.
“Market values seem to be stabilizing,” Davidson said. “The rate of increase appears to be slowing over time.”
