Submitted by Tamara LeMaire, Fidelity National Title Insurance Company
 
Property Taxes can be very confusing for home buyers.  Here is a brief explanation to help explain the way Oregon Property taxes work:
 
Oregon Property Tax are levied and become a lien on the property July 1st of each year with payments due November 15 of the same calendar year.   Taxpayers may elect to pay in thirds and if they do so, no discount is allowed, and the first one-third is due November 15th, the second one-third is due on February 15th and the final one-third is due May15th. A discount of 3 percent is allowed if full payment is made by November 15th; a 2 percent discount is allowed for two-thirds payment by November 15th. For late payments interest accrues at a rate of 1 1/3 percent per month and is assessed from the 15th to the 15th. Taxes are delinquent as of May 15 if not fully paid. Remember that although the taxes can be paid in one-third increments, that any unpaid taxes are a lien and need to be considered as such on a refinance or sale.
 
The tax year runs from July 1st to June 30th. Taxes are “certified” usually by October 15th, which means the values are set for the year. Taxes are due November 15th. When you pay in November you are paying for the previous July to the next June 30th.
 
You can appeal your property tax value from October 15th to December 31st of the tax year. To do this, you would appeal to the Board of Property tax appeals; sometimes called the Board Equalization. Call your county for details. Property taxes are still expected to remain current during this process.