SALEM, Ore. (AP) – State economists are predicting that Oregon taxpayers will receive “kicker” income tax rebates next year.
The quarterly revenue forecast released Thursday projects nearly $350 million will be credited to taxpayers when they file their 2015 taxes.
Oregon’s “kicker” law is triggered when tax collections exceed expectations by at least 2 percent during a two-year budget cycle.
When that occurs, the unanticipated revenue gets returned to taxpayers. But unlike past kicker rebates, which were distributed as a check around Christmas, those in the future will be refunded on tax returns.
State Economist Mark McMullen says the state will be able to tell for sure whether the kickers will be credited next year after it sees how tax collections go this year.