Number of SH properties in compression falls, providing city more income
May 6, 2020
The number of properties not affected by property tax limitations – approximately one-third of those in the city of Sweet Home – is growing while the amount of tax revenue reduced by the limitations continues to plummet.
Welcome to the world of compression.
As a result of ballot measures passed by Oregon voters in the 1990s, property taxes are constitutionally limited in the state when tax bills surge beyond real estate values. Specifically, when property taxes exceed $10 per $1,000 of real market property valuation for general government and $5 for education, property tax bills are r...