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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]
This issue was a common argument used by supporters of such measures as California Proposition 13 or Oregon Ballot Measure 5; some economists have even called for the abolition of property taxes altogether, to be replaced by income taxes, consumption taxes such as Europe's VAT, or a combination of both.
The average property tax rate is 0.56%, one of the lowest rates in the country. The average homeowner will pay around $1,707 - more than $1,000 less than the national average.
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 .
Portland (/ ˈ p ɔːr t l ə n d / PORT-lənd) is the most populous city in the U.S. state of Oregon, located in the Pacific Northwest region. Situated close to northwest Oregon at the confluence of the Willamette and Columbia rivers, it is the county seat of Multnomah County, Oregon's most populous county.
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The Oregon and California Revested Lands Sustained Yield Management Act of 1937 (43 U.S.C. § 2601), commonly referred as the O&C Act, directed the United States Department of the Interior to harvest timber from the O&C lands (as well as the Coos Bay Wagon Road Lands) on a sustained yield basis.
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