Bend, Oregon Property Tax Increase Affecting All Property Owners In Deschutes County

Well, you can most likely expect an increase in your property taxes this fall.
This increase stems from the voter-approved change to Oregon’s Constitution, Measure 50, which passed In May 1997. Measure 50 limited taxing districts to a specific rate instead of a varying levy. Back in 1997 a constant appreciation in property values was anticipated by the authors of this measure, but the housing bust in 2008 proved them wrong  and Deschutes County property taxpayers will now start to see affects of this. 

Every property account will be different. Some will be impacted, others may not. This will depend on the taxable value of the home. This value is determined by either the real market value or RMV value which fluctuates with the market, or the maximum assessed value or AV value which increases by a slower – more predictable rate, whichever of these two is the lowest. For the first time in years, as the real market value of many homes will exceed the maximum assessed value, many property owners will see an increase in their tax bill. 

As this problem is not yet state wide, and not equal among individuals & properties, it may be a difficult problem for the Oregon Senate Finance Committee to find a solution for it. For more information visit the Deschutes County Assessor’s Office.  We have posted there website here:

Deschutes County: http://www.deschutes.org/Assessors-Office.aspx

Jefferson County: http://www.co.jefferson.or.us/Assessor/tabid/1380/language/en-US/Default.aspx

Crook County: http://co.crook.or.us/Departments/Assessor/tabid/1865/Default.aspx

Oregon: http://www.oregon.gov/dor/ptd/Pages/ic_303_670.aspx

I hope you've found this information helpful and if you have any questions about the Central Oregon Real Estate Market or if we can help you with your next purchase or sale,please call us or shoot us an email to the numbers posted here.

Thanks again and have a great day!

Jim Birtola
Designated Broker & Owner
Birtola Garmyn High Desert Realty
www.BendOregonRealEstate.com
541-312-9449

Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication 

Experience Isn't Expensive It's Priceless! 

We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001

Mortgage Forgiveness Debt Act for Bend Oregon

Mortgage Forgiveness Debt Act for Bend Oregon on 

Bend Oregon Real Estate Tidbits

Yes, the final act by the 112th Congress to avoid the fiscal cliff was a significant victory for homeowners!  As part of the legislation that cleared the US House of Representatives, Congress extended the cancellation of the mortgage debt relief provision for one year, through the end of 2013!

So what exactly does this mean for homeowners??  If a lender forgives some portion of a homeowner’s mortgage in 2013, either as part of a Pre-Foreclosure/Short Sale or Foreclosure, or in a loan restructuring that reduces principal, the Owner/Seller WILL NOT be required to count that forgiven amount as income tax purposes!

This is HUGE and very important because now:

 (1) Homeowners won’t be forced to pay a tax on money they have already lost with cash they never received … and will never receive.

 (2) There are more than 20% of current homeowners with a mortgage in a distressed financial situation owning more on their homes than the current market value that would have been directly affected.

 

(3) The housing market, while recovering slowly, is still fragile enough that this tax relief is necessary to provide a much needed stability in the coming year.

Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication.  Experience Isn't Expensive It's Priceless!

Birtola Garmyn High Desert Realty
Your Real Estate Consultants
Jim Birtola & Ruben Garmyn
541-312-9449
www.BendOregonRealEstate.com
We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001

Questions on Bend's Real Estate Market for February

Bend Oregon Real Estate Tidbits: 

February Questions on Bend Oregon Real Estate

Join Jim Birtola and Valarie Rinker as they answer questions our viewers sent in!

1. I am looking for my first home. My price range is between 100K- 150K. Every time I go to put in an offer I get beat out by an investor. What can I do to help me get a home with so few homes in my price range?

2. I have had my piece of land on the market now for over a year and it still has not sold. What can I do to make it sell?!?!

3. Are resort homes or second homes a good idea right now, and what about renting them through VRBO.com or a vacation rental company?

Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication. Experience Isn't Expensive It's Priceless!

Birtola Garmyn High Desert Realty
Your Real Estate Consultants
Jim Birtola & Ruben Garmyn
541-312-9449
www.BendOregonRealEstate.com
We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001

January Questions on the Bend Oregon Real Estate Market

Starting the Year off right by answering your questions! 

Bend Oregon Real Estate Tidbits | January Questions on the Bend Oregon Real Estate Market

Join Jim and Valarie as they go over a few of the questions that you have asked us.

They start off with talking about the East and West sides of Bend and why you may be attracted to one side over the other. For instance the west side has the Old Mill District with the Deschutes river running through it. As where the east side has close access to St. Charles Hospital and larger lot sizes. If you want to see some of the options check out the Map search at BendOregonRealEstate.com

The second question they go over is about selling your home. If you are trying to decide when you want to put your house up on the market Jim Birtola goes into the pros and cons of listing in the Winter vs. the Summer.  You need to know what your selling goals are, this will help determine when you should list. Plus as a bonus you can go to http://www.zippyhomevalue.com/ and without ever having to talk to an agent you can find out your homes current approximate value.

The third and final question of the day is on taxes. If you are looking to move in from out of state you may have a few questions about how our tax system works. Although we are not tax pros we do understand how it works with your property. Always remember that when you have questions about property taxes your Real Estate agent can put you in touch with a tax accountant to help you make the best financial decisions.

Thanks for reading and remember that when you are looking for the best in Real Estate look to Birtola Garmyn Real Estate Consultants.

Jim Birtola & Ruben Garmyn

Birtola Garmyn High Desert Realty

541-312-9449

101. N.E. Greenwood Ave.

Bend, OR 97701

BendOregonRealEstate.com