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Property taxes dedicated for school funding were capped at $15 per $1,000 of real market value per year and gradually lowered to $5 per $1,000 per year. Property taxes for other purposes were capped at $10 per $1,000 per year. Thus, the total property tax rate would be 1.5% at the end of the five-year phase in period. [2]
Ballot Measure 47 was an initiative in the U.S. state of Oregon that passed in 1996, affecting the assessment of property taxes and instituting a double majority provision for tax legislation. Measure 50 was a revised version of the law, which also passed, after being referred to the voters by the 1997 state legislature.
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year.
The measure rolled back property taxes to 1995 levels. Measure 47 also mandated a double majority for ballot measures increasing taxes. With Sizemore's assistance, the Oregon Legislative Assembly amended some of the provisions of Measure 47 in 1997, [4] and referred the amendments back to the voters as Measure 50, which also passed. [5]
The Oregon Tax Court is a state court in the U.S. state of Oregon, which has jurisdiction in questions of law that regard state tax laws. [1] [2] Examples of matters that would come before this court include income taxes, corporate excise taxes, property taxes, timber taxes, cigarette taxes, local budget law, and property tax limitations. [1]
Oregon's estate tax applies to estates above $1 million, a more aggressive approach than the federal estate tax, which applies only to much larger estates. With tax rates ranging from 10% to 16% ...
May 21—Voters in Bandon overwhelmingly favored continuing a local option tax to fund street repairs Tuesday. In the latest tally released by the Coos County clerk's office, more than 85 percent ...
Act Limiting State Property Tax 10: Yes 409,588: 230,241 64.02% No Ref Motor Carrier Highway Transportation Tax Act 11: No 295,700 301,974: 49.48% No Ref School District Reorganization Act 12: No 233,226 413,137: 36.08% No Ref Cigarette Stamp Tax Revenue Act 13: Yes 399,981: 256,981 60.88% No Init Establishing United States Standard Time in ...