What does the roll correction tax year limit refer to?

The roll correction tax year limit refers to the maximum period during which adjustments can be made to the property tax rolls for corrections resulting from errors in valuation, assessment, or classification. When there is a mistake identified that affects how property taxes are calculated, the tax authority is allowed to correct this error within a specified timeframe. In Oregon, this limit is set at five years.

This means that if an error is discovered, any corrections to that error can only be applied retroactively for up to five years. This timeframe ensures that property owners have some protection against indefinite adjustments to their tax obligations, balancing the need for accurate assessments with the realization that errors can occur. By understanding this time limit, property appraisers and taxpayers alike can navigate the rules surrounding property assessments and tax liabilities more effectively.

Understanding the nature of roll corrections is crucial for appraisers, as it influences how they handle assessments and corrections and provides guidance on the historic integrity of property values over time.