The state of Oregon is getting ready to send $402 million back to taxpayers. State economists Wednesday announced the first so-called kicker rebate since 2007.
Oregon's unique kicker law kicks in when revenues exceed projections by more than two percent. The excess is then refunded to taxpayers. This time that adds up to just over $400 million. State economist Mark McMullen said that's far short of the last kicker in 2007, which topped $1 billion.
"This one won't feel as bad in terms of the budgetary impact," he said, "nor will it feel as good for the folks getting the money back."
A household with a median income from last year will get about a $124 kicker credit on next year's tax form. The top one percent of the state's earners will get more than $4,600. On the other hand, the bottom 20 percent will get roughly $10.
Copyright 2015 Northwest News Network
