How are Business Personal Property assets assessed and tax amounts calculated?
- Assets are assessed based on the RMV (Real Market Value) of the asset at the time of assessment (January 1st of the tax year). The RMV is based on the original cost of the asset and the depreciable life of the asset. The county uses a Valuation Guideline, published by the Oregon Department of Revenue, to determine the RMV at the time of assessment.
- Taxes are calculated using the total RMV multiplied by a percentage based on the tax code area in which the business resides. These percentages can differ by regions within Washington County based on many factors -- local bond measures, school districts, fire and police protection districts, etc. Click HERE for more information
Frequently Asked Question
Business Personal Property Assessment