You can do research to figure out the details, but back in the 90s, a proposition was passed to limit increases in property taxes by limiting the increase in assessed value to 3 percent a year. This does not necessarily correlate to market value. In my neighborhood, I know of two nearby houses that I could hit with a baseball that are plus and minus 1k from my taxes for a similar house. (I pay 6400 in Lake Oswego, admittedly not the cheapest area.) it all seems to come down to the amount for which your house was assessed when the law was passed. Many people feel this is ripe for change, but who knows if that will happen. Taxes also don't reset upon sale. The key is to know the taxes when you buy. I was unfortunately unaware of OR prop tax laws when I bought.
