left column

Connect With Me:

pohl real estate on facebook twitter pohl real estate pohl real estate on linked in E-mail A Friend add this page to your favorites iphone app and qr code pohl real estate
Predefined Homes For Sale PDX Metro
Search By Map  
Listing Id Search  
Detailed Search  
Basic Search  
Luxury Homes  
New Construction  
Portland Condos  
Other Sections

Client Tools -- Vast resource center for those getting into or exiting the real estate market.

Relocating to Portland -- Interested in moving to Portland.

Portland Metro Statistics -- Raw Portland Real Estate market data.

PDX News Headlines -- Pohl Real Estate's news recap around Portland.

Home Search -- Every possible type of search available to you.

Housing Tips -- Useful real estate articles.

Customer Service:

We are committed to our valuable customers, if you notice anything needing corrected. Let us know here.

What Is The New Transfer Tax Measure on the Oregon Ballot?


A transfer tax is a sales tax on the sale of real estate. It's a one time fee that is paid anytime a transfer (or sale) occurs and it's usually a percentage of the sales price. Oregonians pay on average $2200 of property taxes every year which ranks them the 15th highest in the nation. (Side note: Oregon and Hawaii also have the top marginal tax rate on capital gains in the nation). Voting YES on measure 79 would stop another tax on your home.

One question my clients have been asking is, by voting YES on measure 79 would it take away any of the current funding anywhere?

The answer is NO; it's an extra tax so no government entity or enterprise will collect less money including schools.

What happens if I'm upside down on my home?

Good question, the real estate transfer tax would be owed regardless of whether you made a profit or not.

How much could this tax be?

Transfer taxes usually range from 0.1% to 4% of the sales price. If you sold your home for $200,000 it would be an additional $200-$8000.

Can this new tax impact me?

If the state legislature can impose these taxes on homeowners than if you own a home or want to own a home it WILL impact you.

From a homeowners or Seller's point of view, if you are selling a home and there is an extra 1% fee for a transfer/sales tax then for the average sale in Oregon that's $2600 of additional tax. In Oregon the Seller pays for the real estate agents' commission and they split the escrow and title fees with the Buyer. Some homeowners simply do not have enough equity to use a Realtor to sell their home and many others are very tight. If a Seller is unable to sell their home and or break even then typically the home's loan will be need to be shorted or it will go into foreclosure. The more volume of short sale and foreclosure inventory in the market place the more home values are driven lower. The more home values are driven lower the more people will not want to purchase and instead chose to rent. Less owner occupied homes create less pride of ownership and less great neighborhoods. The Seller wants the very most flexibility and income necessary so they can sell their home. Adding more cost in the form of taxes takes away more flexibility and income from the Seller making it more difficult to sell.

From the Homebuyer's point of view. This transfer tax could impact a buyer by them not being able to purchase a home or the one they want. Thousands of real estate agents have been involved in transactions that did not come together by a very small percentage such as 1% of the sales price, including me. The buyer wants a good environment for the Seller to Sell as well because they too might need to sell and if it comes down to very small margins there will be more opportunities for a successful sale verses a terminated sale.

From the Realtor's point of view, inevitably it will cause agents to go out of business. More taxes on homes means less transaction occurring overall. Less transactions overall means less agents to work those transactions. Less transactions mean more inventory and more distressed homes which lead to a depressed market.

Back to Portland Real Estate News Archive

Share This Page With A Friend:
Add This Page To Your Reading List: Add This Page to Your Favorites

Previous Articles:
By Month


Dec-2012 Dec-2011
Nov-2012 Nov-2011
Oct-2012 Oct-2011
Sept-2012 Sep-2011
Aug-2012 Aug-2011
July-2012 July-2011
June-2012 June-2011
May-2012 May-2011
Apr-2012 Apr-2011
Mar-2012 Mar-2011
Feb-2012 Feb-2011
Jan-2012 Jan-2011

Dec-2009 Dec-2010
Nov-2009 Nov-2010
Oct-2009 Oct-2010
Sep-2009 Sep-2010
Aug-2009 Aug-2010
July-2009 July-2010
June-2009 May-2010
May-2009 Apr-2010
Apr-2009 Apr-2010
Mar-2009 Mar-2010
Feb-2009 Feb-2010
Jan-2009 Jan-2010



pohl real estate on facebook twitter pohl real estate pohl real estate on linked in E-mail A Friend add this page to your favorites iphone app and qr code pohl real estate