Part 5/9:
Market Dynamics and Owner Responses
With thousands of commercial properties—including hundreds of thousands of accounts—assessors like Multnomah County’s Mike Vaughn rely heavily on formulas and sales data since personal inspections of all properties are unfeasible. When marquee properties like Big Pink sell at distressed prices, they become key data points—often used as benchmarks for negotiating valuations across the market.
Commercial property owners are increasingly appealing their property tax assessments, citing depressed market values. The surge in appeals—from 277 petitions in 2018 to over 722 last year—signifies widespread concern and uncertainty. However, success in these appeals isn’t guaranteed; many are cost-prohibitive and rely on the allure of recent sales data.