(Information from: KOPB-FM, http://news.opb.org)
SALEM, Ore. (AP) — It’s official: Oregonians will see the largest-ever “kicker” tax refund next year.
Oregon Public Broadcasting reported Wednesday that with all tax receipts for the just-ended biennium counted, state economists say more than $1.57 billion will flow back to personal income taxpayers in 2020, when they file their 2019 taxes. That compares to a “kicker” refund of a little more than $1.4 billion projected in May, when officials last forecast overall revenues.
The final tally, delivered to lawmakers in a hearing Wednesday morning, continued a consistent trend over the last two years, as state tax revenues consistently outpaced economists’ expectations.
In 2017-19, tax receipts came in 9% above projections, meaning the largest refund, by dollar amount. As a percentage of tax liability, it will be the third-largest kicker in Oregon history.