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Ballot Measure 15 was placed on the November 8, 1994 ballot and, "would have required a minimum state funding of schools and community colleges based on funds available from listed sources in the 1993-1995 biennium." The ballot measure was drafted to attempt to rectify a funding shortage created by Oregon Ballot Measure 5, which was passed in 1990, that, according to the Oregon Department of Revenue, "froze non-school taxes at $10 per $1,000 of assessed value. The school taxes limit began $15 per $1,000 of assessed value in the 1991-92 fiscal year, declining $2.50 per year to the final limit of $5 per $1,000 of assessed value in the 1995-06 fiscal year. 1990 Measure 5 required that, through 1996, the Legislature replace from the General Fund any revenue lost to schools because of the limits on property taxes"
The measure read:
"Amends Constitution: State Must Maintain Funding for Schools, Community Colleges.
Question: Shall constitution set minimum state funding of schools, community colleges based on funds available from listed sources in 1993-95 biennium?
Explanation: Amends state constitution. Requires legislature to fund schools and community colleges at no less than 1993-95 base amount, as adjusted. Base amount is the funds needed to give schools and community colleges same funding they had in 1993-95 from listed sources. Base amount must be adjusted for inflation, deflation and enrollment changes. Legislature must compute base amount and adjustments before each biennium. Legislature may change the amount for any school or community college so long as it gives at least total funds required by measure."
A student organization formed with the goal of defeating Ballot Measure 15 was registered around 1993, which is documented in the Student Club and Organization Records.
An explanation of the measure from the City Club of Portland is held with Portland State University. A scan of the voters' pamphlet for Marion County that includes an explanation and comments from proponents and opponents has been archived by the Oregon Secretary of State. The Oregon Department of Revenue has also published a brief history of Measure 15 and other Oregon property taxation policy, titled "A Brief History of Oregon Property Taxation."
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