The Assessor’s Office is responsible for maintaining the inventory of land, buildings and other improvements attached to the land throughout the county. Maintaining the inventory or real property requires an on-site inspection to record information about the land and improvements.
Each property in Jackson County must be classified according to its taxable status and property type. Oregon Administrative Rule 150-308.215 contains the basic property class codes that the Assessor’s Office must use to classify property. Correct classification ensures that property receives the correct annual adjustment or exemption from taxation. In Oregon, the basic property classes are:
|| 1. Residential
|| 2. Commercial
|| 3. Industrial
| 4. Tract
|| 5. Farm
|| 6. Forest
|| 8. Recreation
Since the passage of Measure 50 in May of 1997, the definitions of value in the State of Oregon changed.
Real Market Value (RMV) is an estimation of the price, or amount in cash, that could reasonably be expected to be paid by an informed buyer to an informed seller. Per Oregon Revised Statute 308.210 (1) Oregon’s date of valuation is January 1 at 1:00 a.m.
Maximum Assessed Value (MAV) is the taxable value limit maintained for each property under the provisions of Measure 50 passed by Oregon voters. In 1997, the first year of Measure 50, the MAV was established for each property based on its 1995-96 tax roll and then reduced by 10%. For the years following 1997-98, MAV is equal to the greater of 103 percent of the prior year’s assessed value (AV) or 100 percent of the prior year’s MAV.
Assessed Value (AV) is the value your taxes are based on. It is the lesser of the Real Market Value (RMV) or the Maximum Assessed Value (MAV) on your property.
Exception Value is additional value that may be added to the MAV for specific reasons including:
- New Construction
- The RMV of a property must increase greater than $10,000 in one year or $25,000 in a five year period.
- Rezoning: (Used concurrently with zone purpose)
- For example, a property is zoned and used as residential. The zone changes to commercial. The property cannot be reassessed until it has a commercial use present.
- Partition or Subdividing of property.
General Ongoing Maintenance and Repairs (GOMAR) are improvements made to the property that may increase the sales price of a property but do not trigger an increase to the assessed value.