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The average effective property tax of the 50 states on a household (2007). ... Forcing higher density housing - In the Portland, Oregon area, for example, ...
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 was partly to moderate fast growing house prices in Portland. [3] Measure 47 also instituted Oregon's double majority rule, in which local tax levies could only pass in minor elections when voter turnout surpassed half of the registered voters. In November 1996, Measure 47 was passed by the Oregon voters 52.3% to 47.7%. [4]
The IRS’s state and local tax (SALT) deduction allows taxpayers to deduct their property taxes on their federal tax returns, as well as their state income taxes or their sales taxes (but not ...
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.
Depending on where you live, some homeowners can pay as little as a few hundred dollars a year, while others face having to stump up $5,000 or more.
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.
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents.