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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]
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 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]
Changes to property tax laws occur on an individual state or local basis. In California, for example, Proposition 13 — passed in 1978 — states that a property’s assessed value must be based ...
Bill to Repeal the Oregon Milk Control Law 1942. 1942 General Election [15 ... Constitutional Amendment Changing Property Tax Limitation 1969. June 1969 ...
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% ...
Oregon Ballot Measure 56 or House Joint Resolution 15 (HJR 15) is a legislatively referred constitutional amendment that enacted law which provides that property tax elections decided at May and November elections will be decided by a majority of voters who are voting in the relevant election. [2]