The Oregon Biz Report - Business News from Oregon

Read about accutane journal moderate acne here

Petition says NO to double taxation of property

January 19, 2012

New Ballot Measure Says “NO” to Double Taxation of Property
By Oregon Prosperity Project

Already nearly 100,000 Oregonians have signed the petition to stop real estate transfer taxes in Oregon. Over 116,284 signatures will be needed to put this measure on the November 2012 ballot.

The measure, Initiative Petition 5, prohibits the practice of taxing home sales in Oregon. These taxes are a form of double taxation on top of property taxes that are paid to support schools and local government.

In reality, these taxes on home sales, known as Real Estate Transfer Taxes, are not common practice in Oregon, though they are common throughout the country. In Oregon, only Washington County levies a small tax on the sale of property.

However, over the past decade, the Oregon Legislature has considered nine attempts to authorize a home sales tax at the state or local level.

It’s a real issue, and the impact of a Real Estate Transfer tax is significant. At a 2% tax rate (the current national average), it would add $3,800 to the average home sale in Oregon, further dampening this critical sector in our economy.

For more information on the petition click here

  
Print This Post Print This Post    Email This Post Email This Post

Discuss this article

no comments yet

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Articles

Press Releases



Top Business News

 

Top Women's News

 

Top Natural Resource News

 

Top Faith News

 

Copyright © 2016, OregonReport. All Rights Reserved. | Terms of Use - Copyright - Legal Policy | Contact Oregon Report

Stay Tuned...

Stay up to date with the latest political news and commentary from Oregon Business Report through daily email updates:

Delivered by FeedBurner

Prefer another subscription option? Subscribe to our RSS Feed, become a fan on Facebook, or follow us on Twitter.

RSS Twitter Facebook

No Thanks (close this box)