Oregon Property Tax Exemption Program and Other Tricks To Lower Your Taxes
Paying property taxes is a drag, especially if you live in Oregon. Property tax rates in Oregon are close to 1%, which is the national average.
You cannot avoid paying taxes since collecting property tax money is one of the main sources of revenue for Oregon districts. The only course of action left is to find ways to lower them.
What Are the Oregon Property Tax Regulations?
The Oregon Department of Revenue has the job of overseeing the tax assessment process across the state. Taxation officers are in charge of private property tax assessment, and your taxes are calculated according to your property’s market value and Oregon's current tax rate.
The good news is that the property’s maximum assessed value can’t increase by more than 3% annually. This rule changes if you add adjustments to the structure or perform a subdivision of your property.
If you are still struggling with Oregon tax rates, there are certain tips and tricks to help you reduce your property taxes.
How To Lower Your Property Taxes on Your Own
To lower your property tax, you must put in a little effort, but it can be well worth the trouble. Take a look at the table below for some useful tricks:
|Method of Lowering Your Property Tax||Details|
Ask for your property tax card
|Check for possible errors so you can ask for a property revaluation|
Check your property tax bills
|Compare tax bills to some similar-sized homes’ bills and determine if you are being overcharged|
Organize a home appraisal
|Reduce your property tax bills in the long run with an accurate home appraisal|
File for a property tax exemption
|Check if you qualify for a reduced property tax program in Oregon via the Oregon Department of Revenue website or by using DoNotPay|
Who Falls Under Oregon Property Tax Exemptions?
Individuals and organizations with limited income can be exempt from paying whole or a part of their property income. Oregon currently has around 100 exemption programs that enable full or partial property tax releases. The most common exemptions apply to:
- Charitable organizations
- Religious institutions
- Senior or disabled Oregon citizens
- Disabled veterans or their surviving spouses
What Does Property Tax Release for Seniors in Oregon Require?
If you are a senior citizen living in Oregon, property tax relief is a necessity. Luckily, the state of Oregon allows citizens older than 62 to delay paying their property taxes.
To qualify, you need to:
- Be 62 or older
- Present a deed to the property that you reside in
- Prove that you have both owned and lived on the property for more than five years
- Own a homeowner’s insurance
- Have a household income that doesn’t exceed the current year’s limit
- Not have a reverse mortgage
- Possess homeowner’s insurance that covers fire and other accidents
- Have a net worth less than $500,000
Those who haven’t lived on the property for the required five year period can still qualify for the exemption program if they downsize. They need to meet the following criteria:
- The new home needs to have a lower real market value
- They must satisfy the referral lien on their previous homestead
- Their previous property was in a Property Tax Referral Program
- They must sell the old and buy the new home within a year
- They’re not financing more than 80% of their new home price
If you want to apply, you must visit your county’s assessor’s office between January 1 and April 15 of the current year.
If the Oregon Department of Revenue grants your request, the state will pay your property taxes for the following year.
Property Tax Breaks for Seniors in Oregon Are Possible With DoNotPay
There are states with low property taxes, but Oregon isn’t one of them. If you are a senior citizen residing in Oregon, the last thing you want to do is deal with lowering taxes on your own. It is a complicated process that requires a lot of research. Luckily, you can do it with a little guidance from DoNotPay!
We created a practical Reduce Property Tax feature for anyone who needs help with paying property taxes. Our app uses the information you provide to establish the exemption category you fit in. The next step is creating a personalized guide to reducing your property taxes. Our guide will present:
- Forms you need to complete
- Documents that are relevant to your case
- Course of the application process
The procedure is simple:
- Access DoNotPay from your web browser
- Navigate to the Reduce Property Tax feature
- Enter necessary information about you and your property
DoNotPay will automatically generate your personalized reduce-property-tax guide.
You can use our app to file a property tax appeal for previous property assessments.
The process is similar to the previous one:
- Open DoNotPay in your web browser
- Follow the instructions for getting a personalized guide
- Consult the guide to find out how to negotiate with your local assessor and appeal past assessments
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