In Oregon, what does property tax assessment primarily determine?

The primary function of property tax assessment in Oregon is to determine the property's value for tax purposes. This value is essential as it forms the basis on which property taxes are levied by local governments. The assessed value of a property reflects its market value, but the assessment process specifically aims to create an equitable system for taxation rather than to establish a market price or resale potential.

By focusing on the value for tax purposes, property tax assessments ensure that property owners contribute a fair share towards local services, infrastructure, and government operations based on the value of their assets. This process incorporates various factors, including the characteristics of the property, comparable sales, and market trends, but its core objective is to establish an assessed value that determines how much tax the owner will pay.

The other options may relate to aspects of the real estate market or property values, but they do not capture the specific purpose of a property tax assessment. Current market conditions and the potential for appreciation are factors considered in determining market value, while resale value is more about what a property could sell for in the future rather than the assessed value for tax obligations.