The City Club of Portland has released a draft report saying Oregonians should repeal three ballot measures that turned the state’s property tax into what the report calls a “Frankentax.”
The report says Measures 5, 47 and 50 have led to property assessments that are inequitable, unsustainable and inefficient.
The lead writer of the study Steve Maser, says that while supporters sought to do good, by reducing taxes and increasing the predictability of property taxes, the measures are now wreaking havoc.
“Some of the objectives of the proponents of those measures are being achieved,” he said. “The question is, at what price? They’re cast in concrete in the constitution. They create an inflexible system in a world that is quite flexible and changing.”
The report recommends: a new ballot measure to repeal the old measures; the implementation of new base levies — adjusted for inflation and population — and subjected to periodic citizen review; and finally applying property tax rates to a rolling average of real market values.