For the first time in more than a decade, Portland will begin a citywide revaluation next month.
The revaluation is a process “to appraise all property according to its full and fair just value and spread the tax burden equitably,” according to information from the city’s Assessor’s Office.
City officials say because property values have changed since the last assessment nearly 13 years ago a revaluation is needed.
Last January when the conversation about a revaluation began in Portland, city tax assessor Chris Huff told CBS 13 a third of property owners will see an increase, a third will see a decrease, and a third will stay right where they are,
Huff explained revaluations do not raise new revenue for the city but instead redistribute the tax burden.
When Portland completed its last revaluation in 2006, the new tax bills shocked many property owners. Some home values tripled, resulting in significantly higher tax bills.
More than 24,000 parcels in the city will be reassessed to keep the city complaint with state laws and guidelines, according to city officials.
The state constitution says a general valuation should be done at least once every 10 years.
Tyler Technologies will conduct the reassessment, which is expected to cost around $1 million and begin mid-February. Tyler staff will be in the field by April, collecting photos and data, according to information provided by the city.
A mailing to property owners will be sent in March.
“We’re looking forward to partnering with Tyler on this project,” Huff said in a Tuesday statement. “The property owners and taxpayers of the city deserve fairness and uniformity in the reassessment process and our number one goal is to bring that to them. We have to make it fair for everybody.”
The updated values will be used for the fiscal year 2021 tax bills.
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