The answer
Oregon uses several different property values in its assessment system. Understanding those values can help you compare homes, review a lender's payment estimate, and ask better questions about a property you already own.
The three values on an Oregon assessment
For example, suppose a property's RMV is $600,000 and its MAV is $350,000. Its assessed value would be $350,000 under this basic comparison. That does not mean the tax bill is $350,000, or that the home would sell for that amount. The applicable district rates and other adjustments still need to be considered. This example shows assessed values only. It is not a quote of a tax rate or a final bill.
| Term | What it means |
|---|---|
| Real market value, or RMV | The assessor's estimate of market value as of the assessment date |
| Maximum assessed value, or MAV | A value calculated under Oregon's statutory assessment limits |
| Assessed value, or AV | Generally the lower of RMV and MAV; this is the value used to calculate property taxes |
Lane County's valuation explanation describes the distinction. A county assessment is also different from a lender's appraisal or a broker's estimate of today's likely sale price.
What Measure 50's 3% rule actually means
For ordinary annual calculations, MAV is generally the greater of the prior year's MAV or 103% of the prior year's assessed value. Certain property changes, including qualifying new improvements, can affect that calculation.
The 3% rule is not a guarantee that your tax bill can increase by no more than 3%. Changes in taxable value, voter-approved measures, and other applicable charges can affect the amount due.
The Oregon Department of Revenue's assessment guide explains the values and exceptions. Ask the county about a property's actual assessment rather than applying the rule to its listing price.
Does assessed value reset when a home sells?
A sale by itself generally does not reset Oregon's maximum assessed value to the purchase price. You should still review the property's record before treating the seller's most recent bill as your future budget.
For example, a newly built home may have an earlier statement that does not yet reflect all completed improvements. A property with special assessment or an exemption may require additional questions about whether that treatment will continue. Significant improvements or changes to the property can also affect assessment.
Ask Lane County what the record currently includes and whether known changes may affect the next statement. Have your lender account for that information in its payment estimate.
Why similar homes can have different tax bills
Two homes with similar sale prices can have different assessed values and belong to different combinations of taxing districts. Their assessment histories and property characteristics may also differ.
Compare the actual statements when evaluating two listings. Record the tax year, assessed value, annual amount, and any explanation of exemptions or special assessment. If the difference is substantial, ask what causes it before drawing conclusions about which property will remain less expensive.
An “effective tax rate” calculated by dividing a tax bill by a market value is a comparison statistic. It is not a universal rate you can safely multiply by every Eugene home's purchase price.
When are Lane County property taxes due?
The property-tax year runs from July 1 through June 30. The usual installment dates are November 15, February 15, and May 15. When a due date falls on a weekend or legal holiday, the applicable deadline moves to the next business day. Check the current statement and Lane County's payment information for the exact dates and payment instructions.
Lane County provides a 3% discount for paying in full by the first deadline, or a 2% discount on the amount paid when two-thirds is paid by that deadline. Paying one-third by the first deadline avoids interest on that installment but does not earn a discount. Review the statement's options before paying.
Your mortgage escrow payment is a separate calculation
If your mortgage servicer collects money for property taxes and insurance, it uses an escrow account to pay those bills. The amount collected each month is not the same thing as a new tax assessment.
When your mortgage payment changes, compare the county statement with the servicer's escrow analysis. Ask whether the change comes from the annual tax amount, insurance, an escrow shortage, or another item. Avoid paying the county a second time without checking whether your servicer is already handling the bill.
A tax checklist before you buy
Get the latest available statement through Lane County Assessment and Taxation. Confirm the address, account, tax year, assessed values, and any additional accounts associated with the sale.
Then ask whether the figures reflect the property as it exists today. This matters especially for new construction, major additions, divided land, and properties with special tax treatment. Compare the confirmed information with the taxes shown in your lender's estimate.
At closing, escrow also handles property-tax adjustments under the purchase agreement. Those prorations allocate amounts between buyer and seller; they do not establish a new annual assessment. Our seller closing-cost guide explains how they affect a sale's proceeds.
Compare homes with the tax information in hand
Contact Stacy Haugen and Team Burke if you are comparing Eugene properties. We can help gather the available tax records and identify questions to resolve with the county or your lender before you decide.
Eugene property-tax questions
Can I estimate taxes using 1% of the purchase price?+
Use the property's actual record and a lender's informed estimate instead. A single percentage can miss differences in assessed values, districts, improvements, or special treatment.
Does a lower assessed value mean a home is overpriced?+
No. Assessed value serves a tax purpose and may differ substantially from market value. Evaluate the asking price using relevant sales, condition, and current competition.
Will renovating increase my taxes?+
Some improvements can affect assessed value. Ask the assessor how your proposed work would be treated; do not assume that every repair has the same effect or that the bill can rise only 3%.
Who can explain a charge I do not understand?+
Contact Lane County Assessment and Taxation for the assessment or tax statement. Contact your mortgage servicer about escrow collections and the closing company about transaction prorations.