PORTLAND, Ore — With no sales tax, Oregon relies heavily on property taxes to fill its general fund coffers. Yet that rate, according to a national researcher, still sits below the national average.
So reports a new study from SmartAsset, a financial technology company that also provides research on an array of topics. The company revealed the good news for Oregon in an accompanying rankings of state counties by home values.
Overall, Oregon's effective property tax rate in Oregon is 1.04 percent, below the U.S. average currently of 1.08 percent.
VIEW SLIDESHOW: The 10 Oregon counties where home values are rising the fastest
To ascertain its ratings of which counties where home values have risen the most, SmartAsset used three factors: Property tax rates, school ratings and average home value growth. It then created an index based on an accumulated value from those factors.
The top 10 counties, according to SmartAsset's index, are contained within the slideshow above.
A bit more about the index: SmartAsset used he number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
Its schools score is based on proficiency numbers, in math and reading, performed for all districts in the country. The ratings accompanying the pictures run from a scale of one to 10.
SmartAsset further calculated the change in property tax value in each county over five years. The final index takes all three of the above factors into account.
Click through to learn which 10 Oregon counties sport the fastest-growing home values.
The Portland Business Journal is a KGW News partner.