Oregon's real estate taxes are modeled after California's. They are capped at 3% increase per year (in taxable value, increases in individual levies can lead to

Oregon's real estate taxes are modeled after California's. They are capped at 3% increase per year (in taxable value, increases in individual levies can lead to more than a 3% increase year over year). My house is about 10 years old and I pay ~1.5% of it's resale value in taxes annually. Granted, that's much higher than my neighbor who occupies his childhood home built in the 1960s but it's hardly outrageous compared to other parts of the country. One difference in OR, in addition to selling a home, a significant improvement (ie adding an additional bedroom) can lead to a resetting of the taxable value at current market value.