Oregon Property Tax 2026: Measure 5, Measure 50, Senior Deferral and PVAB

Oregon's property tax is governed by two constitutional voter initiatives: Measure 5 (1990) caps total non-school property tax at 1 percent of real market value and school tax at 0.5 percent, and Measure 50 (1997) caps annual growth in the maximum assessed value at 3 percent. This 2026 guide explains how both work, the Senior Property Tax Deferral, and the renamed Property Value Appeals Board (formerly BOPTA).

How Oregon Property Tax Works

Oregon uses two values in the tax calculation:

• Real Market Value (RMV): the assessor's estimate of market value as of January 1
• Maximum Assessed Value (MAV): the capped value under Measure 50 — cannot grow more than 3% per year except for new construction or major additions

The taxable value is the lower of RMV or MAV — known as Assessed Value (AV).

The tax calculation

Reassessment

Oregon assessors update RMV annually. MAV remains on its own 3% growth track regardless. When RMV falls below MAV (rare in a rising market), AV drops to RMV — providing automatic tax relief in declining markets.

Measure 5 and Measure 50 — Structural Rules

Measure 5 (1990)

Constitutional limit on total property tax extraction per parcel:

• Non-school local government: maximum $10 per $1,000 RMV (1%)
• Basic school: maximum $5 per $1,000 AV (0.5%)
• Voter-approved bond levies: exempt from both caps

If the combined local rates would exceed these caps, the excess is compressed or eliminated — the local taxing districts share the reduction proportionally.

Measure 50 (1997)

Constitutional cap on Maximum Assessed Value growth at 3% per year. Original 1997-98 MAV was set at 90% of the 1995-96 RMV. Grows at 3% annually unless:

• New construction adds value (MAV for new portion set at market)
• Major improvements (remodel, expansion)
• Property is subdivided or significantly modified

MAV effectively freezes long-term holders well below current market value. A home bought in 1997 may have RMV of $800,000 and MAV of $200,000 — taxes are calculated on $200,000.

What is NOT frozen

• Local tax rates (set annually by taxing districts)
• Voter-approved bond levies (excluded from Measure 5 caps)
• New construction and major improvements (reset MAV to market)

Senior and Disabled Property Tax Deferral

Oregon's Senior and Disabled Citizens' Deferral Program allows qualifying homeowners to defer payment of property tax. The state pays the county on the homeowner's behalf; a lien is placed on the property; repayment (with interest) occurs when the homeowner sells or no longer qualifies.

Eligibility for 2026

• Age 62 or older on April 15 of the year you apply, OR disability-qualified
• Oregon resident who has owned and occupied the property at least 5 years
• Total household income approximately $54,500 or less
• Property has no junior liens except purchase-money mortgage
• Net worth limit (home equity and other assets)

Interest

Deferred tax accrues at the state-certified rate (currently approximately 6% annual) compounded. The lien is repaid from sale proceeds or the estate when the homeowner no longer qualifies.

Application

File with the Oregon Department of Revenue by April 15 for the tax year.

Other Exemptions

Disabled Veteran Exemption

Veterans with 40% or greater service-connected disability (or surviving spouses) receive an annual exemption of approximately $30,000 off RMV (base amount, adjusted annually by the Oregon Department of Revenue).

Active-Duty Military Exemption

Oregon resident servicemembers on active duty outside Oregon receive a homestead tax deferral for the period of active service.

Historic Property Special Assessment

Qualifying historic properties may receive a 10-year special assessment freezing the value at a lower level during restoration periods.

Appealing Your Assessment

Oregon assessment appeals go through the renamed Property Value Appeals Board (formerly BOPTA).

Step 1: Talk to the assessor

After receiving your tax statement (typically in October), contact the county assessor. Many disputes resolve informally.

Step 2: Property Value Appeals Board (PVAB)

File formal appeal with the county PVAB between the date tax statements are mailed (October) and December 31. Filing is free. Present evidence such as comparable sales, an independent appraisal, or cost estimates for repairs.

Oregon's HB 2031 (effective January 1, 2024) renamed the Board of Property Tax Appeals (BOPTA) to Property Value Appeals Board (PVAB). The process is identical to BOPTA.

Step 3: Oregon Tax Court, Magistrate Division

PVAB decisions may be appealed to the Magistrate Division of the Oregon Tax Court within 30 days. Informal hearings; attorney not required.

Step 4: Oregon Tax Court, Regular Division

Further appeal to the Regular Division of the Oregon Tax Court. From there, appeals go to the Oregon Supreme Court.

Payment Schedule

Oregon property tax for the fiscal year July 1 - June 30 is billed in October. Payment options:

• Full payment by November 15: 3% discount
• Two-thirds payment by November 15: 2% discount on the two-thirds paid; remainder due May 15
• One-third installments: November 15, February 15, May 15 (no discount)

Delinquent tax accrues 16% annual interest. Extended delinquency can lead to foreclosure by the county.

Frequently Asked Questions

What is Oregon's property tax rate in 2026?

Oregon has no single statewide rate. Under Measure 5, total non-school property tax is capped at 1% of Real Market Value and school tax at 0.5% of Assessed Value. Typical total effective rate ranges from 0.85% to 1.4% of market value depending on county and voter-approved bonds. Portland-area counties trend higher, rural counties lower.

What is Measure 50 in Oregon?

A 1997 constitutional amendment that caps annual growth in Maximum Assessed Value (MAV) at 3% per year. The original 1997-98 MAV was set at 90% of 1995-96 Real Market Value. MAV grows at 3% annually regardless of market performance, except when new construction or major improvements reset the MAV to market levels.

When is the Oregon property tax appeal deadline?

File with the Property Value Appeals Board (PVAB — formerly BOPTA, renamed by HB 2031 in 2024) between the date your tax statement is mailed (typically October) and December 31. If dissatisfied, appeal to the Magistrate Division of the Oregon Tax Court within 30 days of PVAB decision.

How does Oregon's senior property tax deferral work?

Qualifying seniors (age 62+) and disabled homeowners with household income up to approximately $54,500 can defer paying property tax. The state pays the county on the homeowner's behalf, and a lien is placed on the property at approximately 6% annual interest. Repaid when the property is sold or the homeowner no longer qualifies. File with the Oregon Department of Revenue by April 15.

What is BOPTA in Oregon?

The Board of Property Tax Appeals — Oregon's primary forum for property tax assessment appeals. Renamed Property Value Appeals Board (PVAB) effective January 1, 2024 under HB 2031. The process, deadlines, and procedures are identical to the old BOPTA name.