Media Contact: Anette Spickard, Assessor, 541-682-6798
Lane County taxpayers will receive their 2012-13 property tax statements beginning Monday, October 22, 2012. Tax statements and other property tax information will be online at www.lanecounty.org/at also beginning Monday. The first payment is due Thursday, November 15, 2012.
The Lane County Assessor collects property tax on behalf of 83 separate taxing districts including cities, schools, education service districts, water districts, rural fire districts, urban renewal districts and other taxing districts such as park and recreation, library and ambulance districts.
The total property tax certified to collect for all tax levies combined in 2012 is $406.6 million. This is less than one percent more than in 2011. The amount of taxes billed changes each year as a result of the addition of new local option levies approved by voters, the expiration of levies, the 3 percent statutory increase in assessed values, the addition of new properties to the tax roll, the number of exemptions granted and the number of properties being taxed on their lower market values instead of their Measure 50 assessed values.
Seventy-eight percent of residential properties in Lane County still have a Measure 50 assessed value lower than their real market value. Those properties will continue to see the 3 percent statutory increase in their assessed value even though sales of homes in 2011 continued to show a declining market. On average, residential property owners will pay tax on 86 percent of their home’s real market value in 2012.
The 2012 tax statement reflects your property’s real market value as of January 1, 2012. This is based on the sales activity of the 2011 real estate market which in Lane County showed an overall 6.5 percent decrease in residential property value. An individual property’s value varies depending on the location and changes made to the property such as new additions, remodels, or demolition. Property values for tax purposes are set only once a year at the time of certification in early October. Oregon does not reset property values at the time of sale as in California, nor does it reset property values for tax purposes at the time of a refinanced loan.
Oregon’s constitution limits the increase in maximum assessed value of each property to 3 percent per year, unless there have been changes made to the property. The most common reasons a property’s assessed value grows more than 3 percent is new construction or additions, new partitions or subdivisions, removal from special assessment or exemption programs, or changes in zoning and use of the property.
The total taxable value for all properties combined in Lane County increased by 1.8 percent over last year, from $26.7 billion in 2011 to $27.2 billion in 2012. This change reflects the slow pace of new construction activity in 2011 as well as the increase in the number of properties whose market values have dropped below their Measure 50 assessed value resulting in a lower taxable value. 22% of properties in Lane County now have a market value below their assessed value which is up from 10% of properties on the prior tax roll.
Construction activity in 2011 added $268.5 million in new real market value to the 2012 tax roll. This is about half of what was added to the roll in the prior year reflecting the low level of building permit activity in 2011. Combined with another decline in the overall sales prices of existing properties in the 2011 real estate market, Lane County’s January 1, 2012 real market value dropped down to $44.8 billion from $46.5 billion. This is an overall decrease of 3.7 percent from January 1, 2011.
Typical single family homes in most areas of the county experienced decreases in value (Eugene -5.2 percent, Springfield -8.7 percent). Areas of the county that saw the largest changes to market values were on the coast where the real estate market has been more volatile (Florence -16 percent).
The change in tax an individual property owner will see depends on the area the property is located. Voters in the past year have approved changes to the tax levies and bond rates which are then applied to the property’s assessed value. However Oregon’s constitution limits the total tax rate that can be billed to an individual property to no more than $10 per $1,000 of market value for government and $5 per $1,000 of market value for schools. The limits do not apply to bonds.
Changes to levies that will appear on the 2012 tax statement are:
- Western Lane Ambulance District passed a new 5 year local option levy of $0.45/$1,000 to pay for emergency medical operations.
- Goshen Rural Fire Protection District passed a 10 year local option levy of $0.50/$1,000 to allow district to update and/or replace aging apparatus such as a fire engine and a rescue pumper engine.
- Junction City Rural Fire Protection District passed a 5 year local option levy of $0.60/$1,000 to allow district to continue to operate at the present level of fire protection and emergency medical services.
- Dexter Rural Fire Protection District passed a 5 year local option levy of $0.50/$1,000 to allow the district to make improvements such as the replacing a 32 yr old water tanker, other vehicles, safety equipment, and general operating expenses.
- The Junction City Water Control District bond was paid off and will no longer be billed.
- The Oakridge School District bond increased from $0.8535/$1,000 last year to $1.3791/$1,000 this year due to increased debt service payment.
Property Tax Statement Insert
2012 Real Market Value on Typical (Median) Home in Lane County
Property Taxes on a Typcial Home in Lane County