The Marion County building in downtown Salem (Caleb Wolf/Special to Salem Reporter)
Tax bills are on their way to Marion and Polk county residents. While property values are up, not all property owners will see significantly bigger bills.
According to a press release from the Marion County Assessor’s Office, property across the county became more valuable since last year.
Each year, the assessor’s office determines the real market value of properties, the estimated amount of cash that the owner could reasonably expect for their property. As of Jan. 1, the total real market value of all property in Marion County rose by 5% from last year to $53.15 billion.
According to the Marion County Assessor’s Office, the real market value of homes and residential land in cities and towns rose to $24.32 billion, a nearly 6% increase from the previous year.
The real market value of rural property including homes, acreage homes, farms and forest lands also grew to $11.77 billion, a 4% increase from 2019. Commercial and industrial properties grew slower in value than other properties. The real market value of these properties grew to $14.42 billion, a nearly 3% increase from 2019.
However, the rising values won’t mean a big tax jump for every property owner.
Measure 50, a ballot initiative passed in 1997, effectively limits increases in a property’s taxable value. According to the Marion County assessor’s office, the typical unchanged home will only see a 3% increase in taxable value. Additionally, 13,293 properties received sharp reductions in their taxable values and taxes due to farm or forest special assessments, and 17,681 properties receive full or partial tax exemptions, according to the assessor’s office.
The Polk County Assessor’s Office reports that a significant number of property owners will see increases in their tax bill this year because of changes in local bonds or levies.
Properties in communities with new or expiring bonds will see changes in their tax rates. The city of Hubbard will see tax increases of about 9% due to a new Hubbard Rural Fire Protection Local Option Levy. The average residential tax bill in Willamina will rise $180 up from from last year’s $1,648.
The overall taxable value for Marion County properties grew by 4.21% for all properties to $27.62 billion, which is about half of real market value, according to the assessor’s office.
Local schools, Chemeketa Community College and educational service districts will receive 46% of taxes raised. Cities will see 22%, Marion County government 17% and fire districts 6%. Urban renewal districts receive about 3%. These percentages are similar to last year, according to the assessor’s office.
In Polk County, the total real market value of property countywide increased by 8% from last year to $11.7 billion.
According to numbers from the assessor’s office, the average west Salem residential property tax bill will increase from last year’s $4,247 to $4,414 this year.
Property owners affected by the historic wildfires that devastated Santiam Canyon can apply for property tax relief until June 30, 2021.
Taxes are due by November 16 in both Marion and Polk counties. In Marion County, property owners who pay in full will receive a 3% discount.
Property owners in both counties are encouraged by the assessor’s office to review their statements for accuracy and can request a review before filing an appeal. The Marion County Assessor’s Office can be reached at 503-588-5144. The Polk County Assessor’s Office can be reached at 503-623-8391.
Contact reporter Jake Thomas at 503-575-1251 or [email protected] or @jakethomas2009.
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