Oregon
Oregon revenue forecast means $5.6 billion back to taxpayers next year
SALEM Ore. (KPTV) – Oregon’s economy appears to be strong as the state emerges from the pandemic, according to the quarterly revenue forecast released Wednesday.
The total general fund increased by $437 million, which could mean more money back for taxpayers.
Oregon governor Tina Kotek released a statement saying, in part, “The revenue forecast provides encouraging news about the state’s economic stability.”
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With the increased revenue forecast, Oregon taxpayers will see a bigger refund next year – a record $5.6 billion.
Whenever revenues from personal income taxes and other non-corporate sources comes in at least 2% higher than forecasted, taxpayers get the excess money back in the form of a “kicker.”
The typical Oregonian is expected to get a $980 credit on their state income tax.
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