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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.
Oregon voters placed limits to property tax in the Oregon Constitution in 1990 with the passage of Measure 5.A majority of voters were frustrated by the increase in property taxes attributed to rapidly rising property values in the Portland area.
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.
Sep. 9—Portland city officials are considering a temporary program that would provide additional property tax relief for seniors until a new state tax deferral option goes into effect next year.
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
Fortify made a partial payment for its combined 2023 bill and missed the April 30 deadline for the 2024 property taxes bill of about $44,700. The unpaid balance for the three parcels is $39,400.
Limitations on ad valorem property taxes 7: No 431,577 461,542: 48.32% Yes Init Prohibits state expenditures, programs or services for abortion 8: Yes 573,707: 318,610 64.29% No Init Requires death penalty for murder under specified conditions 9: Yes 589,361: 267,132 68.81% No Init Limitations of public utility rate base 10: No 334,523 515,138: ...