Oregon Real Estate Transfer Tax Amendment, Measure 79 (2012)

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Real Estate Transfer Tax Amendment
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Type:Constitutional amendment
Constitution:Oregon Constitution
Topic:Taxes
Status:Approveda
The Oregon Real Estate Transfer Tax Amendment, Measure 79, also known as Initiative 5, was on the November 6, 2012 statewide ballot as an initiated constitutional amendment, where it was approved. The measure prohibited real estate transfer taxes.[1]

Election results

See also: 2012 ballot measure election results
Oregon Measure 79
ResultVotesPercentage
Approveda Yes 976,587 58.89%
No679,71041.11%
Official results from the Oregon Secretary of State.

Text of measure

The official ballot title was:[2]

Amends Constitution: Prohibits real estate transfer taxes, fees, other assessments, except those operative on December 31, 2009.

Result of "Yes" Vote: "Yes" vote prohibits state/local governments from imposing taxes, fees, assessments on transfer of any interest in real property, except those operative December 31, 2009.

Result of "No" Vote: "No" vote retains existing law prohibiting local governments from imposing real estate transfer taxes/fees (with exceptions), allowing state legislature to impose such taxes/fees.

Summary: Amends constitution. Current statutory law prohibits a city, county, district, or other political subdivision or municipal corporation from imposing taxes or fees on the transfer of real estate (with certain exceptions). However, the state legislature has the authority, subject to Governor approval, to impose such taxes and fees or to change current statutory law. Measure prohibits the state and any city, county, district, or other political subdivision or municipal corporation from imposing taxes, fees, or other assessments based upon the transfer of any interest in real property or measure by the consideration paid or received upon the transfer of any interest in real property. Measure exempts from the prohibition any taxes, fees, or other assessments in effect and operative on December 31, 2009. Other provisions.

Support

Supporters argued that although Oregon law prohibiyted real estate transfer taxes in Oregon, a preemptive step was needed to ensure that the law remains in effect. However, proponents of the proposed measure also worried about recently proposed bills in legislative sessions to rescind the rule.[1]

Protect Oregon Homes headed the petition drive campaign to gather sufficient signatures to qualify the proposed measure.[1]

Campaign contributions

As of December 2011 the Oregon Association of Realtors had raised an estimated $735,000 in support of the proposed measure. The National Association of Realtors contributed $332,140.[3]

Opposition

Opponents said the measure was unnecessary because the tax was already banned by state law. Defend Oregon was a political action committee filed in opposition to the measure.[4]

Path to the ballot

See also: Oregon signature requirements

In order to qualify for the ballot, supporters were required to collect a minimum of 116,283 valid signatures by July 6, 2012. According to reports in early November 2010, supporters had collected more than 25,000.[1] In December 2011, a 100,000 signatures had been collected. An estimated 60,000 were collected by paid petitioners.[3]

On May 24, 2012, supporters of the Oregon Real Estate Transfer Tax Amendment submitted 163,278 signatures to the Oregon Secretary of State.[5]

On June 7 the Oregon Secretary of State found 122,342 petition signatures valid, thus qualifying the measure for the November 2012 ballot.[6]

See also

Similar measures

Approveda Missouri Real Estate Taxation, Amendment 3 (2010)

Articles

External links

References