Property Values Up Again in Jackson County

by Pete Belcastro.
If you received your property tax statement in the mail this week, it might be a good time to look at it.  Overall, says Josh Gibson, Jackson County Assessor property valuations are up 7%.  Seven percent is not a bad number.   Here’s why.
In the lead up to the Great Recessions we saw double digit valuation increases.  That is not sustainable.  For most of the past eight years, we saw valuation declines causing many homeowners to lose equity (value) and others their homes.
Gibson says Real Market Value is arrived at a number of ways which are explained in the Real Estate Radio Show of which Gibson is a guest.  Be sure to check it out.
Some areas saw their Real Market Value rise above 7%, and some even saw a decrease depending on sales in a certain area.
That’s me.  My personal property, Real Market Value went down 6% for me but my property taxes went up 3%.  Yes, that is the way it works in Oregon.   I live in Ashland too, which doesn’t make sense losing value like that when prices are up.  Others fared the same way.
Remember valuation can fluctuate, but property taxes will go up 3% a year no matter what.  What a stupid system we have in Oregon regarding property values and taxes.  Its not going to change anytime soon.
Hear the full show with the county assessor, it will open your eyes on Real Market Value and make reading your property tax statement a little easier to understand.