Real estate market values topic of series of local lectures

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Story Published: Sep 3, 2008 at 10:50 PM PDT

By Kristina Nelson

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NORTH BEND - It's no question that the real estate market is currently on a downward trend, but as market values continue to drop, property taxes are still going up.

And Coos County Chief Deputy Assessor Adam Colby says lately, he's been receiving a lot of questions about the current trend.

Which is why over the next couple of weeks, he's holding a series of free informational sessions at various spots in the county to help property owners understand why this is happening.

"Well, it's how Measure 50 is structured. Oregon voters passed it in 1997, and the way it's structured, it puts limits on how fast the assessed value, the max assessed value can go up versus the real market value," says Colby.

During his 45 minute presentation, Colby presents an overview of how the Oregon Property Tax System works and specifically how a downturn in the real market values relates to the levy of property taxes.

His next session will be held this Thursday night in the Coos Bay City Council Chambers from 6:30 to 8 p.m..

Next week he will hold a session on Wednesday, September 10th at the Coquille Community Building from 6:30 to 8 p.m.

For a complete list of session's and locations call the Assessor's Office at 396-3121 extension 272.

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