Some Crook County homeowners will face a more than 20% increase in their property taxes this year.
The situation was created by provisions tied to Measure 50, which was approved by Oregon voters in 1997 as a way to stabilize tax prices from year to year. The measure set a base point for assessed home values statewide that was 10 percent less than the real market value of each home in 1995.
From 1997 forward, property taxes were set to increase 3 percent each year, no matter how high the real market value went. That steady increase is only interrupted if the real market value drops below the Measure 50 value for that particular year. When that happens, the Measure 50 value is frozen and the property is assessed for taxes based upon the lower real market value.
Read more at The Central Oregonian.