Personal Property Tax Information for Marion County, Oregon
Businesses that possess taxable personal property in Marion County, Oregon, are required to file tax returns and pay personal property taxes annually. Business owners in Marion County or those planning to do business in the county should know about the different types of property that are subject to personal property taxes. Following the proper filing and payment procedures can help a business avoid costly late penalties.
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Taxable Property
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Property that is not real estate that is being used or has been used for business is considered taxable personal property. Taxable personal property includes items such as movable machinery, tools, equipment, furniture and supplies. Floating property, such as a houseboat, is also taxable. Items for personal use, intangible personal property and farm machinery and equipment are exempt from taxes. Taxable personal property located in Marion County as of the assessment date, January 1 at 1 a.m., is taxable by the county.
Assessment
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Personal property is assessed at 100 percent of its real market value, or what it would sell for on the open market. The county assessor determines this annually using information from tax returns. Property owners must file a tax return by March 1, listing all of their personal property as of January 1. Taxpayers are charged penalties for filing late or failing to file. Taxes are based on a property's assessed value and the tax rate, which varies by district.
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Payment
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Tax bills are mailed to taxpayers in mid October each year and are due in three equal installments on November 15, February 15 and May 15. Taxpayers can receive a 3 percent discount by paying the full amount by November 15. A 2 percent discount is earned by paying two-thirds of the full amount by November 15, with the final one-third due by May 15. Taxpayers may pay by mail, in person, online or by phone.
Interest and Delinquent Taxes
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Interest charges begin accruing and taxes become delinquent after a tax installment has not been paid. If taxes are not paid after the tax collector sends a notice of delinquency, the tax collector may take several steps to enforce collection. He may record a warrant, or judgment, against the taxpayer, or seize the assessed property and sell it in an auction. The tax collector may eventually foreclose on a taxpayer's real estate to collect delinquent personal property taxes after taxes are three years delinquent.
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References
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