Got My Property Tax This Weekend

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The_Lillard_King

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The value of the land was down
The value of the structure was down

My proerty tax went up. :smiley-eek2:

I kid you not . . .
 
Yep, I'm in Vancouver and the same thing happened to me. The more liberal states are running out of money to pay for social spending. Property taxes will always go up- even when the value of my property has dropped 20%.
 
I'm pretty sure Obama has nothing whatsoever to do with property tax rates, and still won't after he's President. Property taxes are local, not federal.

Not that you didn't know that already.

barfo
 
barfo said:
I'm pretty sure Obama has nothing whatsoever to do with property tax rates, and still won't after he's President. Property taxes are local, not federal.

Not that you didn't know that already.

barfo
Click to expand...

I'm just saying that if GO Time enjoyed his property tax bill, he's going to love his income tax.
 
Clearly, Obama has nothing to do with it. It's a state issue.

Greedy b*******.
 
BLAZER PROPHET said:
Clearly, Obama has nothing to do with it. It's a state issue.

Greedy b*******.
Click to expand...

Actually, it's mainly a local issue. Property taxes in Oregon primarily fund schools, city and county government, libraries, bond levies, etc.

The reason they can go up even when your property values go down is that the amount of the total taxes funded through property taxes doesn't change simply because the housing bubble has popped. That total amount of taxes is divided by the total value of property in each assessment district to come up with a millage rate. Because the total value of property has gone down, the millage rate has increased proportionately. When you multiply that rate times your home's lower value, the amount of your taxes may actually increase because the total property taxes approved by voters or simply allowed through budgets, probably has increased.
 
maxiep said:
I'm just saying that if GO Time enjoyed his property tax bill, he's going to love his income tax.
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Unless he's making over $250,000 then he shouldn't worry. Of course I really have no idea what the entire plan is.

My taxes went down, should I think Obama for that, or should I find somebody else to blame?

Land went up, structure went down, taxable value went up, my overall taxes went down. I'll take it. Still too high, IMO, but I've got 3 kids and ride public transportation every once in a while so I'll be seeing the value of my tax dollars at work.

Education taxes=932.17
General Gov't Taxes=1559.88
Misc Taxes=298.22
 
BlazersBlood said:
Unless he's making over $250,000 then he shouldn't worry. Of course I really have no idea what the entire plan is.

My taxes went down, should I think Obama for that, or should I find somebody else to blame?

Land went up, structure went down, taxable value went up, my overall taxes went down. I'll take it. Still too high, IMO, but I've got 3 kids and ride public transportation every once in a while so I'll be seeing the value of my tax dollars at work.

Education taxes=932.17
General Gov't Taxes=1559.88
Misc Taxes=298.22
Click to expand...

Yep, that's what he says. Of course, he's not counting the Bush Tax Cuts expiring as a tax increase, nor is he adjusting for inflation the income levels of the Clinton taxes. By CPI, $250K in the early 1990s would be $338K today, but the line is still drawn at $250K. And that's of course if you take him at his word. My guess is he's going to look at the tax income landscape and realize he has two choices: not go through with his programs or lower some of those income figures.

Games with numbers are fun.
 
I have a feeling that Obama will increase taxes on investments, such as the capital gains tax and dividend taxes. Just a hunch, who knows....I think there will be taxes in other arenas that will be numerous.
 
Sorry guys, my house and land went up again.
 
Xericx said:
Nope! Renting my own little swingin' bachelor pad by the beach!

:ghoti:
Click to expand...

Well, then you are paying property taxes, you are just paying them indirectly via your landlord.

barfo
 
barfo said:
Well, then you are paying property taxes, you are just paying them indirectly via your landlord.

barfo
Click to expand...

Yeah. I'm rent controlled so my rent goes up 3% per year. I probably have property taxes in there, but again, I don't have to deal with it so no biggie....just throw a check at the landlord every month and say "later beyotch!"
 
it's_GO_time said:
The value of the land was down
The value of the structure was down

My proerty tax went up. :smiley-eek2:

I kid you not . . .
Click to expand...

You have Measure 47 (1996) to thank.

http://en.wikipedia.org/wiki/Oregon_Ballot_Measure_47_(1996)



Market Values and Taxable (Assessed) Values are 2 different numbers.

Taxable Values are limited to a 3% increase per year (Voter approved Bond measures exempted, which is why they are listed separately).

If the Market Values take off at rates far higher than 3% per year, as they did during the bubble, the 3% cap keeps the tax bill from similarly going up.

The downside, is that when the Market Values decline, the property tax bill will continue to increase 3% per year until the Market and Taxable Values are the same.

If you think the Market Values listed by the assessor are too high and should be lower than the Taxable Value, then it should be worth it to appeal your assessment.

Otherwise, you are paying more now because you paid less in the past.

The Voters of Oregon wanted it this way. Complain to them if you like, not to any politicians. Or, you could give Bill Sizemore a ringy dingy.
 
Xericx said:
Yeah. I'm rent controlled so my rent goes up 3% per year. I probably have property taxes in there, but again, I don't have to deal with it so no biggie....just throw a check at the landlord every month and say "later beyotch!"
Click to expand...

Ah yes, rent control. One of my favorite ways the government spreads the wealth.
 
Masbee said:
You have Measure 47 (1996) to thank.

http://en.wikipedia.org/wiki/Oregon_Ballot_Measure_47_(1996)



Market Values and Taxable (Assessed) Values are 2 different numbers.

Taxable Values are limited to a 3% increase per year (Voter approved Bond measures exempted, which is why they are listed separately).

If the Market Values take off at rates far higher than 3% per year, as they did during the bubble, the 3% cap keeps the tax bill from similarly going up.

The downside, is that when the Market Values decline, the property tax bill will continue to increase 3% per year until the Market and Taxable Values are the same.
Click to expand...

This is true in every state. It was great a few years ago, when housing values could be as much as twice what the assessed value was.

However, in most if not all states, the assessable value is "reset" when property is sold.
 
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