4 ms·
Oregon has a similar issue as well. You’ve got houses that are really old yet worth half a mil plus and they’re paying basically nothing. Except here the tax is
by dawnerd 7y ago
Oregon has a similar issue as well. You’ve got houses that are really old yet worth half a mil plus and they’re paying basically nothing. Except here the tax isn’t recalculated on sale so newer homes are not “worth” as much at resell time.
- onlyrealcuzzo 7y agoWait. Are you saying in Oregon, if you built a house in 1910 for $3k, and you sold it in 1940, 1970, 1990, 2007, and 2019 -- it's still being assessed at the 1910 value? That can be right, can it?! That would mean I could buy an old house for $800k, and pay like $30 in property tax a year? I don't believe it.
- dawnerd 7y agoIt's a little more complicated than that. The maximum assessed value can only go up 3% a year. (There's sometimes other taxes that end up on top, assuming the 3% isn't reached). The only time it can be re-calculated is if you do a fairly large renovation - which lad led to contractors figuring out how to make sure renovations don't trigger it. If you go to Zillow, find some older homes then look at the tax history you'll be amazed.
- turk73 7y agoThat's how all the tax increases got passed by voters--the existing homeowners weren't affected. It's the same reason every city has such huge taxes on rental cars. We need to stop these taxing monsters, not yell about private property.