Property Valuation
The Oregon Department of Revenue oversees the assessment and taxation process. For taxation purposes, Oregon uses:
AOnly the real market value
BThe maximum assessed value or real market value, whichever is lower✓ Correct
CThe purchase price as assessed value
DA fixed dollar amount per square foot for all properties
Explanation
Due to Oregon's Measures 5, 47, and 50, property taxes are calculated using the maximum assessed value (MAV) or real market value (RMV), whichever is lower. MAV grows at a maximum of 3% per year. This system can result in properties with MAV significantly below current RMV.
Related Oregon Property Valuation Questions
- The 'cost approach' to appraisal uses which formula?
- What is a 'broker price opinion' (BPO) and how does it differ from a formal appraisal in Oregon?
- What does 'paired sales analysis' mean in the appraisal context?
- A Portland office building's highest and best use is to be determined. The four criteria for highest and best use are:
- What is the 'gross income multiplier' (GIM) as distinct from the 'gross rent multiplier' (GRM)?
- When appraising an Oregon waterfront property on the Willamette River, an appraiser would most likely apply which value adjustment?
- The 'effective age' of a building in appraisal is:
- What does the 'principle of anticipation' mean in Oregon real estate valuation?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →