In Oregon, the number of signatures required to qualify an initiated constitutional amendment for the ballot is equal to 8 percent of the votes cast for governor in the most recent gubernatorial election. Signatures for Oregon initiatives must be submitted four months prior to the next regular general election. State law also requires paid signature gatherers to submit any signatures they gather every month.
Moreover, Oregon is one of several states that require a certain number of signatures to accompany an initiative petition application. The signatures of at least 1,000 electors are required to trigger a review by state officials, a period of public commentary, and the drafting of a ballot title. Prior to gathering these initial 1,000 signatures, petitioners must submit the text of the measure, a form disclosing their planned use of paid circulators, and a form designating up to three chief petitioners.
The requirements to get an initiated constitutional amendment certified for the 2024 ballot:
Deadline: The deadline to submit signatures is July 5, 2024.
In Oregon, signatures are verified using a random sample method. If a first round of signatures is submitted at least 165 days before an election and contains raw, unverified signatures at least equal to the minimum requirement, but verification shows that not enough of the submitted signatures are valid, additional signatures can be submitted prior to the final deadline.
The Oregon Constitution is the governing document of the U.S. state of Oregon, originally enacted in 1857. As amended the current state constitution contains eighteen sections, beginning with a bill of rights.
https://en.wikipedia.org › wiki › Constitution_of_Oregon
directing the Legislative Assembly to enact a property tax relief program for owner-occupied primary residences of certain seniors. Digest: The resolution would freeze the taxes levied on the homes of seniors. (Flesch Readability Score: 60.7).
Disabled or senior homeowners may qualify for Oregon's tax deferral program. Refer to the Department of Revenue's Senior and Disabled Property Tax Deferral Program webpage for more information about the program and who to contact.
In 2024, eligible Oregon taxpayers will receive a “kicker" tax credit. Your kicker is either included in your refund or it will reduce the amount of tax you owe. The Oregon “kicker" tax credit is how the state returns money to taxpayers when there is a revenue surplus.
If you've used your property as a primary residence for a minimum of two years, you might be eligible to exclude up to $250,000 of your home sale profits from federal income taxes.
This money-saving exemption allows senior citizens who have a total household income of $65,000 or less and meet certain other qualifica- tions to elect to maintain the equalized assessed value (EAV) of their homes at the base year EAV and prevent any increase in that value due to inflation.
Oregon is moderately tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 8.75%.
Oregon laws provide a property tax exemption for property owned or being purchased by certain quali- fying organizations. The most common qualifying entities are: religious, fraternal, literary, benevolent, or charitable organizations, scientific institutions, and schools.
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
The 2024 lifetime estate tax exemption is $13.61 million (double for married couples). (In 2023, it was $12.92 million.) This shields most people from having to pay federal gift tax.
Oregon laws provide for a variety of property tax exemptions for both qualifying individuals and certain organizations. Each type of exemption has specific qualifications. Oregon does not have a homestead exemption. Property tax exemptions are not automatic.
Internal Revenue Code (IRC) §121 provides an exclusion from income on the sale of a taxfiler's principal residence. Qualifying for the IRC §121 exclusion does not determine whether the sale of a property qualifies for the BLT/MCBIT primary residence exemption.
The exclusion is only for people who own and use a property as their primary residence for two of the five years before the sale. Houses cannot be used as real estate investment properties, rent houses, second and vacation homes, or business properties. The exclusion can only be used once every two years.
The Oregon Property Tax Freeze for Seniors Amendment may appear on the ballot in Oregon as an initiated constitutional amendment on November 5, 2024. The initiative would provide for a property tax freeze for homes of residents 65 years of age or older.
State law provides 2 tax benefit programs for senior citizens and persons with disabilities.They include property tax exemptions and property tax deferrals. With exemptions, you pay less taxes or none at all. With deferrals, you are able to pay your taxes at a later date.
With the Oregon homestead exemption, single bankruptcy filers can protect up to $40,000 of home equity and married couples can protect more. In bankruptcy, a homestead exemption protects equity in your home.
An additional exemption is available if you or your spouse have a severe disability or if you have a child with a qualifying disability. For 2023, the maximum credit is $236 for each qualifying personal exemption.
Oregon has property tax rates that are nearly in line with national averages. The effective property tax rate in Oregon is 0.82%, while the U.S. average currently stands at 0.99%.
At least 61 years of age or older. Retired from regular gainful employment due to a disability. Veteran of the armed forces of the United States receiving compensation from the United States Department of Veterans Affairs at one of the following: Combined service-connected evaluation rating of 80% or higher.
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