Monday, December 10, 2007

The State of Oregon is our friend.

We've lived in OR for 2 years and 9 days. We've really liked it for many different reasons ... it was a needed change from NYC, it is beautiful, we have access to lots of outdoor activities, and the newest reason we like OR is they give us $$ back! Here's the story - we were at the gym last week & while I was running on the treadmill I read on the news that we were getting something back called a kicker check. Since we had just joined the gym and I'm not a strong runner, I sort of assumed I read the captions wrong. The next day I heard the kicker check mentioned again on my way to work. Since I work with people who have lived here for longer than 2 yrs and 9 days, I asked my co-workers what the deal was. Turns out the OR constitution requires that when actual revenues exceed forecasted revenues by 2% or more they are bound by law to return it to the tax payers. Being a tax payer, we reaped this payback, which was 18.6%. So, we have another reason to like this state!

4 comments:

Steve said...

Now that is happy news! Just don't go moving to Alaska - they pay people once a year just to live there.

Anonymous said...

So do you have to claim the kicker check as income on your taxes?
How often has this happened?

Next Stop Oregon said...

"Kicker" Fun Facts:

* The kicker is calculated based on a 2-year revenue forecast/review.

* The last kicker was in 2001

* Oregon's kicker law was created in 1979, and voters added it to the Oregon Constitution in 2000.

* The total statewide kicker amount this year was $1.1 billion

* There are refunds of corporate income taxes as well, but not this year. The Legislature voted to place more than $300 million in corporate taxes in a state rainy day fund, canceling what would have been the state's largest corporate kicker ever.

Sonnjea said...

As facts go, those certainly are fun ones.