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Oregon Measure 50, Limits on Property Tax Rates and Assessed Property Value Measure (May 1997)
| Oregon Measure 50 | |
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| Election date |
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| Topic Property and Taxes |
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| Status |
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| Type Legislatively referred state statute |
Origin |
Oregon Measure 50 was on the ballot as a legislatively referred state statute in Oregon on May 20, 1997. It was approved.
A "yes" vote supported replacing the tax limitations in Measure 47 with a reduced maximum assessed property value for the 1997-1998 tax year, limiting the annual increase percentage of property values, and directing the legislature to decrease property tax levies by 17 percent. |
A "no" vote opposed replacing the tax limitations in Measure 47 with a reduced maximum assessed property value for the 1997-1998 tax year, limiting the annual increase percentage of property values, and directing the legislature to decrease property tax levies by 17 percent. |
Election results
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Oregon Measure 50 |
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| Result | Votes | Percentage | ||
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429,943 | 55.71% | ||
| No | 341,781 | 44.29% | ||
Text of measure
Ballot title
The ballot title for Measure 50 was as follows:
| “ | 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 all 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 by as much as $2.3 million per year by allowing higher property tax deductions. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A simple majority vote is required during one legislative session for the Oregon State Legislature to place a state statute on the ballot. That amounts to a minimum of 31 votes in the Oregon House of Representatives and 16 votes in the Oregon State Senate, assuming no vacancies. Statutes do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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