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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 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]
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.
Property owners in all 50 states pay real estate tax, according to the Tax Policy Center. Some pay it directly to their local tax assessor. Others have it included with their mortgage payments, in ...
Amendment Authorizing "Oregon War Veterans' Fund," Providing Tax Therefor 4: Yes: 183,855: 156,219: ... Reduces property tax payable by homeowner and renter 12: Yes ...
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% ...
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 local option tax costs 84.5 cents per $1,000 of assessed valuation and funds street and sidewalk repairs in the city. Mayor Mary Schamehorn was ... Bandon voters extend local option tax for ...