Real Estate Math
An Oregon property has an assessed value of $340,000. Oregon's Measure 5 limits property tax to what percentage of real market value for education?
A1.5% of real market value
B1% of real market value (Measure 5 education cap)✓ Correct
C2% of real market value
DNo limit under Measure 5
Explanation
Oregon's Measure 5 (1990) limits total property taxes: education taxes are capped at $5 per $1,000 of real market value (0.5%) and general government taxes at $10 per $1,000 of RMV (1%). The combined cap is $15/$1,000 (1.5%) of RMV. Measure 50 also limited assessment growth separately.
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