It’s property tax time again, so you should start receiving your property tax statement in the mail here in the coming days and weeks. And don’t be surprised to see a hike in your tax bill.
If you get a green bill it means that your lender is not collecting extra money or you do not have a loan and you need to pay the bill directly. If you have a yellow bill it should mean that your lender is collecting money with your mortgage payments to pay the bill for you. You can confirm that on your mortgage statement which should have info on money collected from you for principal, interest, taxes, and likely insurance as well.
If you are wondering how to go about appealing your property taxes, find links provided below for how to appeal in each county:
Property tax bills are allowed to increase up to 3%, plus any additional increase due to the cost of bond measures that voters approve, such as the Parks and Library bonds passed five years ago. However, in Multnomah County [Portland] you can receive up to a 3% discount on your tax bills if the full property tax amount is paid by November 15, 2018.
Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business which debuted number one on Amazon for mergers and acquisitions. His goal is to teach real estate agents how to grow their business and to help them later retire and benefit from their years of hard work. For the last decade Nick has been a Realtor in Portland, Oregon, where he leads a team and frequently serves as a real estate expert for the media.