For whom are you voting for Governor?
Republican Christine Drazan
Democrat Tina Kotek
Non-Affiliated Betsy Johnson
Some other candiate
Northwest Observer
Subscribe for Free Email Updates
Name:
Email:
Search Articles
       


Post an Event


Salem Keizer We Stand Together Education Forum
Wednesday, August 17, 2022 at 7:30 am
Celeste Guptill has been involved in some facet of alternative education for over twenty years. She has participated with several different homeschool methods, researched and advocated in Salem-Keizer for charter schools. She is going to present several options for alternative education models available and give tips on how to access those, to help you find what will work best for your family.
The Rec, 3500 River Road North, Keizer



Oregon State Fair
Friday, August 26, 2022 at 10:00 am
Which part of the Oregon State Fair are you most excited for? We'll keep adding to the fun all summer long!
Salem, Or



Washington County Candidate Meet and Greet
Wednesday, August 31, 2022 at 6:30 pm
Join our Washington County State House and Senate Candidates and Oregon State and National Candidates to discuss issues that are important to you, your family, and your community. Refreshments provided.
King City Clubhouse 15245 SW 116th Ave. King City, Oregon 97224



Linn County GOP Gala and Auction
Saturday, September 10, 2022 at 5:00 pm
Keynote Speaker Dave Sanderson, 2009 "Miracle on the Hudson" survivor.

linngop.com/galatickets
Linn County Expo Center



Washington County GOP Reagan Dinner
Saturday, September 17, 2022 at 6:00 pm
Tickets for Reagan Dinner 2022 in Hillsboro September 17th, now on sale at www.washco.gop, featuring former Secretary of State Mike Pompeo.



Oregon General Election
Tuesday, November 8, 2022 at 8:00 pm
Statewide


View All Calendar Events


Chipping Away at Property Tax Reform
Big government dream: A self-increasing tax

Editor's note: This is the first in a multipart series exploring tax measures before the Oregon Legislature during the 2021 session

As one of the few states without a general sales tax, Oregon depends heavily on property tax for revenue. Real property is taxed based on its value -- know as ad valorem taxes. As real estate prices spiked in the 1990s -- along with taxes -- citizens began to become resentful of the tax windfall enjoyed by their governments. In 1996 the citizens of Oregon passed property tax reform as Measure 47. There were some technical problems with Measure 47, so in 1997, the Legislature sent Measure 50 to the voters, which fixed the problems by repealing Measure 47, but keeping the tax cuts.

For 1997-98, the assessed value of a property was set at 90 percent of the property’s 1995-96 assessed value. After 1998 the growth in assessed value was limited to three percent annually. New properties are calculated by multiplying the ratio of assessed to real market value for similar property in the county by that property’s real market value. This means that if you have a home where the assessment has been rising only three percent in 1989 and you build a similarly valued home nearby, the tax rates would be similar.

Property values, especially with the policies in Oregon, tends to increase at a rate greater than three percent, so over the decades, most properties have seen a huge gap between the real market value -- what a home can sell for -- and the assessed value, which is capped to increase at no more than three percent annually.

State Representative Rob Nosse has introduced HJR 13 which proposes an amendment to Oregon Constitution providing that, for purposes of ad valorem property taxation, the ratio of maximum assessed value to real market value of property must be equal to three quarters of the market value.

A D V E R T I S E M E N T

A D V E R T I S E M E N T

It also exempts from ad valorem property taxes lesser of first $25,000 or first 25 percent of real market value of each homestead and requires the legislature to enact laws for administration of exemption, including adjusting $25,000 for inflation.

This means that property taxes would no longer be capped at three percent annually. They are only required to lag behind market value. The legislative revenue office has not done any analysis on what dollar amount this will raise, but it has to be significant, and will grow over the years.

As with all changes to the Oregon Constitution, only the people can do that, so this bill is a referral to the 2022 ballot. This resolution has not be scheduled for a hearing.


--Staff Reports

Post Date: 2021-02-23 13:04:07Last Update: 2021-02-23 15:48:24



Read More Articles