Oregon's Ballot Measure 49

Oregon's Ballot Measure 49, approved in 2007, limits property tax benefits related to "Up to $10,000" valuation reductions for landowners who subdivide their land for development. Specifically, it restricts these tax benefits to properties developed with up to three residential dwelling units and prevents claiming such benefits on land that is subdivided into more than three parcels after February 2007. Essentially, the measure aims to curb excessive tax advantages for large land subdivisions, encouraging responsible development and preserving local tax revenue.