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Oregon Limits on Property Tax Rates, Measure 50 (May 1997)

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The Oregon Limits on Property Tax Rates Amendment, also known as Measure 50, was on the May 20, 1997 ballot in Oregon as a legislatively-referred state statute, where it was approved. The measure limited property taxes through restrictions on assessed valuation of property and property tax rates.[1]

Election results

Oregon Measure 50 (May 1997)
ResultVotesPercentage
Approveda Yes 429,943 55.71%
No341,78144.29%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

50 AMENDS CONSTITUTION: LIMITS ASSESSED VALUE OF PROPERTY FOR TAX PURPOSES; LIMITS PROPERTY TAX RATES

RESULT OF "YES" VOTE: A “yes” vote adopts amendment limiting property taxes through restrictions on assessed value of property and property tax rates.

RESULT OF "NO" VOTE: A “no” vote rejects amendment and retains existing constitutional provisions.

SUMMARY: This measure changes current provisions relating to property taxation. The measure establishes the maximum assessed value of property in this state for the 1997-1998 tax year as 90 percent of the property's real market value In the 1995-1996 tax year and then limits any increase in maximum assessed value for tax years following 1997-1998 to three percent per year. For the 1997-1998 tax year, the measure generally reduces the total of taxing district levies in the state by 17 percent. This reduction will reflect Measure 47 cuts by basing the cuts on the lesser of the 1995-1996 tax minus 10 percent or the 1994-1995 tax, adjusted for voter approved levies. For subsequent tax years, the measure permanently fixes the tax rates of each taxing district, based on each district's 1997-1998 levy. The measure permits assessed values to be adjusted for new property or property improvements and certain other events. but limits the amount of the adjustment. The measure permits certain local option taxes, if approved by voters. The measure retains the existing total property tax rate for all property taxes, Including local option taxes but excluding taxes for bonds, at $5 per $1,000 of value for schools and $10 per $1,000 of value for nonschool government. The measure repeals obsolete constitutional provisions

ESTIMATE OF FINANCIAL IMPACT: This measure replaces Measure 47, which was approved by voters last November.
This measure reduces property tax revenues of local governments by $361 million in the 1997-1998 fiscal year and $443 million In the 1998-1999 fiscal year compared to what would have been collected under Measure 5.
By contrast, existing law (Measure 47) might reduce property tax revenue by as much as $458 million In 1997-1998 and $548 million in 1998-1999. However, the reduction could be as little as $270 million per year based on a recent Attorney General's opinion and depending on how the courts and the legislature further interpret Measure 47.
This measure is expected to reduce county costs of administering the property tax system by $5,1 million per year after the measure is fully implemented.
This measure could reduce state Income tax receipts byes much as $2.3 million per year by allowing higher property tax deductions. a funding source for the development and maintenance of the Prison Reform and Inmate Work Act of 1994, and may reduce the costs of incarcerating inmates.

YES □

NO □ [2]

See also

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References

  1. 1.0 1.1 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed December 11, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.