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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.
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 ] The measure transferred the responsibility for school funding from local government to the state, to equalize funding.
The Mountain State has an average property tax rate of 0.57%. A typical homeowner will pay only $809 in property taxes each year — the lowest total amount in the country.
Once you know your state’s property tax rate, you can dig deeper to learn about property tax specific to your locality. ... which is why everyone’s property tax rate is slightly different ...
State tax levels indicate both the tax burden and the services a state can afford to ... Property taxes ($ thousands) License taxes ... Oregon: 1,398,998: 16 ...
Oregon. State sales and average local tax: 0%. State tax on ... effective state property tax rate, and 4) state marginal income tax rate that would apply to the 2021 national average income before ...
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. [53] Exemptions can be quite substantial.
Oregon’s constitution limits the total tax rate that can be billed to an individual property to no more than $10 per $1,000 of market value for government and $5 per $1,000 of market value for ...