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INFORMATIONAL MEETING |
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TAPES
6-7, A-B |
JANUARY 23, 2003 1:00 PM
STATE CAPITOL BUILDING
Members Present: Senator Ryan Deckert, Chair
Senator Tony Corcoran
Senator
Lenn Hannon
Senator
Charlie Ringo
Members
Excused: Senator Ted Ferrioli, Vice Chair
Senator
Bruce Starr
Invited
Witness: John Phillips, Oregon Department of Revenue
Staff Present: Paul
Warner, Legislative Revenue Office
Mazen
Malik, Legislative Revenue Office
TAPE
6, SIDE A
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005 |
Chair Deckert |
Calls meeting
to order at 1:06 p.m. |
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010 |
Mazen Malik |
Introduces himself to the Committee and outlines his
area of expertise. Begins overview of
Property Tax orientation. |
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024 |
Malik |
Discusses slide 2: Home Ownership, Ten Highest and
Lowest. |
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052 |
Malik |
Discusses slide 3: Home Ownership, U.S. and Oregon. |
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075 |
Malik |
Discusses slide
4: Property Tax System. |
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105 |
Malik |
Discusses slide 5: Oregon Property Tax per Capita and
% of Income. |
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136 |
Malik |
Discusses slide 6: Property Tax per Capita and % of
Income – State Rank. Questions and
answers interspersed. |
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167 |
Malik |
Discusses slide
7: Property Value and Tax Rate -- 1970 – 2001. |
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201 |
Malik |
Discusses slide
8: Growth of Imposed Tax Levies – 1970 – 2002. |
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217 |
Malik |
Discusses slide
9: Who Levies Taxes on Property? |
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247 |
Malik |
Discusses slide 10: What Property is Taxed? Questions and answers interspersed. |
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290 |
Malik |
Discusses slide
11: 2001-02 Property Assessed Value Breakdown. |
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300 |
Malik |
Discusses slide 12: 1979 – 2002 Comparison of
Residential and Non-Residential Assessed Value as a % of Total Assessed
Value. Questions and answers
interspersed. |
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444 |
Paul Warner |
Regarding longer term trends on commercial and
industrial property, added that increasingly investment dollars are spent on
equipment and less on structures. |
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470 |
Malik |
Discusses slide 13: 2001-02 Property Assessed Value by
Property Class. |
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482 |
Malik |
Discusses slide 14: Oregon County Ranking of Overall
Total Assessed Value. |
TAPE 7, SIDE A
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038 |
Malik |
Discusses slide 15: Average Growth in Assessed Value
by Property Class from 1990 – 2002. |
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052 |
Malik |
Discusses slide 16: Total Real Market Value Growth
Rates–10-Year Annual Average (1990 – 2000). |
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066 |
Malik |
Discusses slide 17: Overview of the Current Property
Tax System. |
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070 |
Malik |
Discusses slide 18: Property Tax Bill. Questions and answers interspersed. |
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122 |
Warner |
Adds that local option discussion will be included in
the school finance orientation to be presented next week. |
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153 |
Malik |
Discusses slide
19: Components of the Tax Statement. |
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175 |
Malik |
Discusses slide
20: Building Blacks of the Property Tax System. |
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183 |
Malik |
Discusses
slides 21, 22, and 23: Measure 5. |
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198 |
Malik |
Discusses slides 24 and 25: Measure 50. Questions and answers interspersed. |
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241 |
Malik |
Discusses slide
26: Total Property Taxes. |
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257 |
Malik |
Discusses slide
27: Value and Rate Limit. |
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283 |
Malik |
Discusses slide
28: Basic Value Limit. |
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299 |
Malik |
Discusses slide
29: Value Limit Exception. |
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334 |
Malik |
Discusses slide
30: Minor Construction. |
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340 |
Malik |
Discusses slide 31: Comparison of ways to arrive at
assessed value. |
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367 |
Malik |
Discusses slide 32: 2001-02 Property Change Ratios –
by Property Class. Questions and
answers interspersed. |
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390 |
Malik |
Discusses slide
33: M50 Established Maximum Assessed Value. |
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423 |
Malik |
Discusses slide
34: Specially Assessed Value. |
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431 |
Malik |
Discusses slide
35: Measure 5 Value. |
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444 |
Malik |
Discusses slide
36: Tax Rates. |
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469 |
Malik |
Discusses slide 37: Characteristics of Permanent
Rates. Questions and answers
interspersed. |
TAPE 6, SIDE B
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059 |
Malik |
Discusses slide
38: Measure 50 – Voter Approved Levies. |
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061 |
Malik |
Discusses slide
39: Local Option Election. |
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077 |
Malik |
Discusses slide
40: School Local Option. |
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083 |
Malik |
Discusses slide
41: General Obligation Bonded Debt. |
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090 |
Malik |
Discusses slide
42: Oregon’s Property Tax Limits. |
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105 |
Malik |
Discusses slide 43: 2001-02 Property Taxes Imposed by
District and Tax Source. |
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114 |
Malik |
Discusses slide 44: 2001-02 Breakdown of Taxes % of
Total Taxes. |
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117 |
Malik |
Discusses slide 45: Statewide Average Tax Growth Rates
Since M50. |
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123 |
Malik |
Discusses slide 46: Measure 50 Tax Calculation. Questions and answers interspersed. |
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162 |
Malik |
Discusses slide
47: Measure 5 – Tax Compression. |
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192 |
Malik |
Discusses slide
48: Example of figuring tax compression. |
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219 |
Malik |
Discusses slide
49: Tax Compression Occurs. |
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225 |
Malik |
Discusses slide
50: M5 Compression Losses 1991 – 2002. |
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251 |
Malik |
Discusses slide
51: Local Option Gap Amount – Size and Growth. |
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278 |
Malik |
Discusses slide
52: Other Features of the Property Tax System. |
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293 |
John Phillips |
In response to question of how mailing date of
property tax statements was established, responds that the October 25 mailing
date allows tax collectors to print and mail the statements so that the tax
due date of November 15 can be achieved.
Further questions and answers interspersed. |
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376 |
Malik |
Begins discussion of Urban Renewal. Discusses slide 53 and 54: Urban Renewal
Basics. |
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409 |
Malik |
Discusses slide
55: Oregon’s Urban Renewal Agencies. |
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430 |
Malik |
Discusses slide
56: Urban Renewal. |
TAPE 7, SIDE B
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020 |
Malik |
Discusses slide
57: Urban Renewal Revenue Sources. |
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049 |
Malik |
Discusses slide 58: Example: Urban Renewal Division of
Tax Calculation. Questions and
answers interspersed. |
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055 |
Malik |
Discusses slide 59: Urban Renewal Division of Tax
Revenue 1998-2000. Questions and
answers interspersed. |
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071 |
Malik |
Discusses slide 60: Breakdown of Urban Renewal
Division of Tax 1998-1999. |
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074 |
Malik |
Discusses slide
61: Urban Renewal Revenue Sources. |
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084 |
Malik |
Discusses slide
62: Urban Renewal Maximum Tax Authority. |
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088 |
Malik |
Discusses slide
63: Urban Renewal Special Levy Limit. |
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090 |
Malik |
Discusses slide 64: Options for Urban Renewal
Plans. Questions and answers
interspersed. |
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108 |
Malik |
Discusses slide
65: Urban Renewal Revenue by Source. |
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111 |
Malik |
Discusses slide 66: Urban Renewal Tax Revenue &
Maximum Authority 1992-2000. |
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117 |
Malik |
Discusses slide 67: Trends in Urban Renewal Program. Questions and answers interspersed. |
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155 |
Warner |
Reminds members that they are invited to attend the
House Revenue Committee meeting Friday, January 24, to hear about the School
Funding and Revenue Options task force report and report from advisory
council members. |
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175 |
Chair Deckert |
Adjourns meeting at 2:45 p.m. |
Tape Log Submitted by,
Carol Phillips, Committee Assistant Reviewed
by Kim Taylor James
Exhibit Summary:
1.
The Property Tax System, Malik, 34 pp.