(at the request of Senate Interim Committee on Finance and Revenue)
Chief Sponsors:
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Regular Sponsors:
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Bill Title:
Proposing amendment to Oregon Constitution relating to valuation of property.
Catchline/Summary:
Proposes amendment to Oregon Constitution creating minimum assessed value for ad valorem property taxation equal to 50 percent of real market value and maximum assessed value for property taxation equal to 75 percent of real market value. Proposes amendment to Oregon Constitution creating minimum assessed value for ad valorem property taxation equal to 50 percent of real market value and maximum assessed value for property taxation equal to 75 percent of real market value. Changes exception valuation of property to 75 percent of real market value. Adds to classes of property subject to exception valuation property sold or transferred to new owner.
Applies to tax years beginning after July 1, 2010.
Refers proposed amendment to people for their approval or rejection at next regular general election.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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SJR 8 Senate Committee On Finance and Revenue
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