Property Tax Fairness in Multnomah County, Oregon

13 Pages Posted: 14 Apr 2015

See all articles by Fred Thompson

Fred Thompson

Willamette University - Atkinson Graduate School of Management

Kawika Pierson

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Robert Walker

Willamette Center for Governance and Public Policy Research

Date Written: March 30, 2015

Abstract

This article evaluates two alternative standards for resetting property assessments on title transfer in property tax systems like Oregon’s and California’s, which are explicitly designed to protect property owners against rapid, unanticipated increases in their tax bills: California’s reset to market and one in which the property is given a new assessed value based on its market value and a ratio that is updated annually to reflect the average relationship between assessed value and market value within a jurisdiction. We find that the latter promotes assessment quality better than the former and also probably mitigates lock-in.

Keywords: property tax, fairness, assessment quality, stability

JEL Classification: H7, H71, H29, D63

Suggested Citation

Thompson, Fred and Pierson, Kawika and Walker, Robert, Property Tax Fairness in Multnomah County, Oregon (March 30, 2015). Available at SSRN: https://ssrn.com/abstract=2593933 or http://dx.doi.org/10.2139/ssrn.2593933

Fred Thompson (Contact Author)

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States
503-370-6228 (Phone)
503-370-3011 (Fax)

Kawika Pierson

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

100 Main Street
E62-416
Cambridge, MA 02142
United States

Robert Walker

Willamette Center for Governance and Public Policy Research ( email )

900 State Street
Salem, OR 97301
United States

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