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Oregon Estate Tax Phase-Out Initiative, Measure 84 (2012)
| Estate Tax Phase-Out Initiative | |
 | |
| Quick stats | |
| Type: | Initiated state statute |
| Referred by: | Citizens |
| Topic: | Taxes |
| Status: |  |
Contents |
Election results
- See also: 2012 ballot measure election results
| Oregon Measure 84 | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| No | 912,541 | 54.14% | ||
| Yes | 776,143 | 45.86% | ||
- Official results from the Oregon Secretary of State.
Text of measure
The official ballot title was:[1]
Result of "Yes" Vote: "Yes" vote phases out estate/inheritance tax, tax on death-related property transfers, and tax on property transfers between family members; reduces state revenue.
Result of "No" Vote: "No" vote retains one-time estate tax on inherited property for estates of certain value; tax on property transfers between family members in certain circumstances.
Summary: Current state law imposes one-time tax on estate of person dying on/after January 1, 2006, if estate's gross value -- determined by federal law as of December 31, 2000 -- is at least $1,000,000. Current law taxes income-producing property sales, regardless of parties' relationship. Measure incrementally phases out estate/inheritance tax, tax on property transfers between "family members" (defined), and tax on property transferred in connection with person's death; prohibits imposition of such taxes on property of person dying on/after January 1, 2016. Allows state to cooperate with other states and federal government in administering those entities' estate/inheritance taxes; permits fees on probate and other transactions that may occur following person's death. Measure reduces state revenues; provides no replacement. Other provisions.
Support
No formal support was identified.
Opposition
No formal opposition was identified.
Path to the ballot
- See also: Oregon signature requirements
In order to qualify for the ballot, supporters were required to collect a minimum of 87,213 valid signatures by July 6, 2012. On July 27, 2012, the Oregon Secretary of State reported that the measure had received sufficient signatures and therefore qualified for the ballot.[2]
See also
External links
Additional reading
References
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