On your tax bill you will find RMV (Real Market Value) and AMV (Assessed Market Value). The property taxes are calculated from AMV. That value rises every year linear 3%, regardless of what the RMV does which is in most cases above the AMV.

A lot of people think that now that their RMV has been lowered by market condition significantly, their taxes should be lower as well. But if your RMV is still higher than the AMV that will not happen.

So why would you even care what your RMV is? Because if property values, especially in hard hit areas, continue to drop, there might be a point when your RMV is actually falling under the AMV and THEN it influences your taxes.

So have a look at at what comparable houses are selling for on a regular basis, not, what they are listed for.

If you feel your RMV is down, get an appraisal.

If you grieve your taxes in front of your Board of Property Tax Appeals you need evidence and that is not your opinion or a few printouts of what other homes on your street are on the market for.

It needs to be hard, neutral evidence and a recent appraisal from a licensed appraiser is exactly that.

Annette Sievert, Broker

Coldwell Banker Valley Brokers

541 207 5551

asievert@valleybrokers.com

www.homesincorvallisoregon.com

www.valleybrokers.com/asievert

 

 

 
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Annette Sievert - Corvallis, Oregon

Corvallis, OR

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CB Valley Broker

Address: 1109 NW 9th st, Corvallis, OR , 97330

Office Phone: (541) 207-5551

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