OR HJR13 | 2021 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 21 2021 - 25% progression
Action: 2021-03-01 - Public Hearing held.
Pending: House Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Proposes amendment to Oregon Constitution providing that, for purposes of ad valorem property taxation, ratio of maximum assessed value to real market value of property must be equal to 0.75. Proposes amendment to Oregon Constitution providing that, for purposes of ad valorem property taxation, ratio of maximum assessed value to real market value of property must be equal to 0.75. Provides that if such ratio is less than or greater than 0.75, maximum assessed value of such property shall be increased or decreased, respectively, so that ratio is equal to 0.75. Provides five-year ramp-up for new assessment policy. Exempts from ad valorem property taxes lesser of first $25,000 or first 25 percent of real market value of each homestead. Requires Legislative Assembly to enact laws for administration of exemption, including adjusting $25,000 for inflation. Refers proposed amendment to people for their approval or rejection at next regular general election.

Tracking Information

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Title

Proposing amendment to Oregon Constitution relating to ad valorem property taxation.

Sponsors


History

DateChamberAction
2021-03-01HousePublic Hearing held.
2021-01-28HouseReferred to Revenue with subsequent referral to Rules.
2021-01-21HouseFirst reading. Referred to Speaker's desk.

Oregon State Sources


Bill Comments

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