The Oregon Tax Court recently ruled on a property tax appeal involving Vickers Limited Partnership and the Lincoln County Assessor. The court decided to adjust the real market value (RMV) of a shopping center owned by Vickers in Newport, Oregon. This ruling is significant as it affects the property taxes that Vickers will owe for the 2025-26 tax year.

The case, titled Vickers Limited Partnership v. Lincoln County Assessor, was filed on November 3, 2026, under docket number TC-MD 260068R. The court's decision came after a trial held on May 27, 2026, where both parties presented evidence regarding the property's value. The outcome has implications for property owners and assessors in Lincoln County and could influence future property tax assessments.

Background

Vickers Limited Partnership is the owner of a shopping center located at the western end of Highway 20 in Newport. The shopping center consists of approximately three acres of land with 13 tax lots, including a grocery store and several other commercial tenants. The property has seen significant renovations, including a new roof and repairs to the entryway.

The Lincoln County Assessor initially assessed the shopping center's real market value at $8,376,700 for the 2025-26 tax year. However, the Property Value Appeals Board (PVAB) later reduced this value to $7,254,600. Vickers Limited Partnership disagreed with this assessment and appealed to the Oregon Tax Court, seeking a further reduction in the property's assessed value.

The Ruling

The Oregon Tax Court, led by Magistrate Richard D. Davis, ruled in favor of Vickers Limited Partnership, determining the RMV of the property to be $4,040,000 as of January 1, 2025. The court found that the evidence presented by Vickers was more persuasive than that of the Lincoln County Assessor.

The court ruled, "The court finds that Plaintiff has done so. Schaffner’s separate treatment of the anchor and inline spaces, his reliance principally on executed comparable leases, and his analysis of the subject’s competitive Newport grocery market provide a more persuasive foundation for estimating market income."

The court's decision was based on the income approach to property valuation, which considers the income the property can generate. The court accepted the analysis of Vickers' appraiser, Jamie Stanton, who concluded that the grocery store's market rent was lower than the assessed value due to competition and other market factors.

Impact

This ruling has a significant impact on Vickers Limited Partnership, as it lowers their property tax liability based on the newly determined RMV. It also sets a precedent for how similar properties may be assessed in Lincoln County, particularly those that are grocery-anchored shopping centers. This case illustrates the importance of accurate property valuation and the role of market conditions in determining property taxes.

The decision may also encourage other property owners who feel their assessments are too high to appeal their property values. The court's emphasis on the income approach could lead to a shift in how assessors evaluate commercial properties in the future.

What's Next

Vickers Limited Partnership has the option to appeal the decision further if they choose. The court's ruling can be contested by filing a complaint in the Regular Division of the Oregon Tax Court within 60 days of the decision. Details were not available in the court filing regarding any related cases pending.