In 2019, homes sales increased in real market values in Benton County, according to a report published on the Benton County website Thursday. This increase will be reported to property owners in tax statements this fall.
A property’s taxable value is not affected by an increase in real market value, instead, property is taxed on its assessed value. According to the county, “A property’s assessed value is the lower of its real market value and its maximum assessed value. The maximum assessed value is the taxable value limit established for each property and is limited to a 3% annual increase unless there is a change or addition to the property.”
Surprisingly, values for manufactured homes in Oregon have increased dramatically over the last five years. In Benton County, the average real market values have increased by 67% since 2016. These homes are classified as personal property and are located both in rural areas or in manufactured home parks, of which there are 17 in Benton County.
2020 tax statements, as well as certified values, will be mailed by the county no later than October 25, but they are also available now on the Assessor’s website. If you wish to speak with the Assessor’s office, it continues to request that you utilize phone and email communication. You can schedule an appointment to visit the office in person or ask questions about your property values by calling the office at (541) 766-6855 or by sending an email to firstname.lastname@example.org.
By Kyra Young