By Beth Benner, May 10, 2024
In Oregon, when you snag that dream home, it’s natural to wonder about the impact on property taxes. The short answer is: yes, they could go up.
Here’s why:
When you buy a house, the county assessor swings into action. They reassess the property’s value based on what you paid for it. If your purchase price is higher than the previous assessed value, it’s likely your property taxes will increase.
But hold on, it’s not a free-for-all. Oregon has this thing called Measure 50, which puts a cap on how much your property taxes can shoot up each year. Generally, it’s around 3%. This cap helps prevent sticker shock and keeps things manageable for homeowners.
However, there are exceptions. If you’re doing major renovations or building something new, all bets are off, and your property taxes could see a bigger hike.
So, while buying a house might nudge your property taxes up a bit, it’s usually not an astronomical jump overnight, thanks to Measure 50. Still, it’s smart to touch base with your local county assessor’s office to get the lowdown on how buying your new digs might affect your taxes.
Beth Benner
Broker | OR & WA
She/Her
Beth has over 19 years of experience spanning more than 500 transactions during her career as a Licensed Broker in Oregon and Washington. In 2023, she earned a spot among the REAL Producers Top 100 producing agents in Portland out of more than 8,000 licensed brokers and she has also maintained her status in the top 5% of all Oregon brokers for eight consecutive years.
Beth is proud to have cultivated her client base on the referrals of the many happy homeowners she’s worked with over the years and through professional relationships with lawyers, conservators, and fiduciaries. She deeply cares about each of her clients and approaches her job as a long-term commitment, aiming to help them make the best investment. Beth is also a local real estate investor, leveraging her expertise and knowledge of the market to make sound investment decisions.
She is a lifelong Portlander and has volunteered with Make-A-Wish, Meals on Wheels delivery, SW Portland Little League, and serves as an elementary school classroom volunteer. Beth is a devoted mom to three active kids and in her free time, she loves hiking, reading, traveling, wine tasting, and cheering for the Portland Thorns as a season ticket holder.
Real Estate Background:
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- Licensed Broker in Oregon for 19 years and Washington for 17 years
- 48 total personal transactions in 2023
- Multiple investor and repeat/referral clients
- #1 Individual broker at LRR in 2020
- Top 100 of all OR brokers in 2023
- Top 5% of all OR brokers for 8 years
- PMAR Masters Circle Diamond Platinum Member 2016-2023
- Licensed in OR & WA
- T: 503-819-2885
- bethbenner@livingroomre.com
