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Oregon Real Estate Transfer Tax Amendment (2012)
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Contents |
Text of measure
The official ballot title is:[2]
Result of "Yes" Vote: "Yes" vote prohibits state/local governments from imposing taxes, fees, assessments on transfer of any interest in real property, except those operative December 31, 2009.
Result of "No" Vote: "No" vote retains existing law prohibiting local governments from imposing real estate transfer taxes/fees (with exceptions), allowing state legislature to impose such taxes/fees.
Summary: Amends constitution. Current statutory law prohibits a city, county, district, or other political subdivision or municipal corporation from imposing taxes or fees on the transfer of real estate (with certain exceptions). However, the state legislature has the authority, subject to Governor approval, to impose such taxes and fees or to change current statutory law. Measure prohibits the state and any city, county, district, or other political subdivision or municipal corporation from imposing taxes, fees, or other assessments based upon the transfer of any interest in real property or measure by the consideration paid or received upon the transfer of any interest in real property. Measure exempts from the prohibition any taxes, fees, or other assessments in effect and operative on December 31, 2009. Other provisions.
Support
Supporters argue that although Oregon law currently prohibits real estate transfer taxes in Oregon, a preemptive step is needed to ensure that the law remains in effect. However, proponents of the proposed measure worry about recently proposed bills in legislative sessions to rescind the rule.[1]
Protect Oregon Homes supports and has launched the petition drive to gather sufficient signatures to qualify the proposed measure.[1]
Campaign contributions
As of December 2011 the Oregon Association of Realtors has raised an estimated $735,000 in support of the proposed measure. The National Association of Realtors contributed $332,140.[3]
Path to the ballot
- See also: Oregon signature requirements
In order to qualify for the ballot, supporters are required to collect a minimum of 116,283 valid signatures by July 6, 2012. According to reports in early November 2010, supporters had collected more than 25,000.[1] In December 2011, a 100,000 signatures had been collected. An estimated 60,000 were collected by paid petitioners.[3]
See also
Similar measures
Missouri Real Estate Taxation, Amendment 3 (2010)
Articles
External links
References
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