Tax Alert – Property Tax bill hearing

WatchdogSJR 201 removes property tax caps on homeowners for tax assessment rates
By Taxpayer Association of Oregon

This morning the Senate Finance and Revenue Committee will be taking up Senate Joint Resolution 201 which would eliminate the property tax limits on property tax assessment approved by voters with Ballot Measure 50 in 1997. The full details behind Senate Joint Resolution 201 are not clear (because the bill author is anonymous) and will be discussed today in the hearing. It is helpful to note that Oregonians already pay higher property taxes than the national average and that Oregon state and local government already spend more per capita than the national average. So why put homeowners at risk of higher property taxes? The Taxpayer Association will be at the hearing to find out why.
Here is the bill summary for Senate Joint Resolution 201.
Senate Joint Resolution 201 Proposes amendment to Oregon Constitution repealing ad valorem property tax assessment provisions created by House Joint Resolution 85 (1997) (Ballot Measure 50 (1997)), requiring ad valorem property taxes to be assessed on real market value of property and directing Legislative Assembly to provide exemption from ad valorem property taxes for owner-occupied principal dwellings and tax lots upon which dwellings are located.

Here is a link to Senate Joint Resolution 201