Bill watch: Property Tax Increases may cost you $750 in higher taxes
By Taxpayer Association of Oregon
There are nine Property Tax increase bills that have already surfaced in the Legislature & new ones arrive weekly. Here is the watch list: HJR 7, HJR 8, HJR 13, HJR 19, HJR 20, SJR 11, SJR 11, SJR 14 and SB 313. (Note: Most of these bills have no author).
If the Legislature kills Oregon’s two constitutional property tax caps (Measure 5 & 50) it would increase many homeowner’s tax bill by $750.00 on their home. Depending on the plan, you could see some the tax hit immediately or will hit when you sell or buy your home. Oregon’s property tax caps are currently protecting homeowners from over $100 million in overtaxation that exceed the constitutional tax limit. Without our constitutional tax limit that $100 Million rock falls on our head as a homeowners.
Each bill is different as it tries different ways to weaken Measure 5 and Measure 50 constitutional tax limits and the tax hit varies greatly and by homeowners who have similar property values. Because our limits are in the constitution the politicians must send the issue to the ballot – but remember in times past the politicians have used dictator-like authority in writing their own ballot title (something illegal for everybody else).
We fear the property tax bills to come and that the price tag may grow even higher or closer to their $100 million tax prize. A lot remains unclear as we and others further analyze these bills and official revenue impact statements are released when these bills get hearings. It cannot be under-stated the type of taxes that will come immediately to take advantage of the fewer tax limit protections. This plays a role in your tax bill going up towards $750 in the near future — even if you think you are spared by smaller changes in your tax limits in the short term.
Please help us stop a $100 million property tax increase. Make an online donation today to the Taxpayer Association of Oregon. Your help is greatly needed.