![Oregonians Taxpayer Set To Receive $5.6 Billion In Tax Kickers [Photo: Oregon Capital Chronicle]](https://omdnews.com/wp-content/uploads/2023/09/Oregon-Capital-Chronicle.jpeg)
The Oregonians taxpayer is set to receive close to $1,000 back on their taxes in 2023.
![Oregonians Taxpayer Expected To Receive Refunds In 2024 [Photo: Philomath News]](https://omdnewsnew.s3-accelerate.amazonaws.com/2023/09/Philomath-News.jpeg)
Oregonians Taxpayer Expected To Receive Refunds In 2024 [Photo: Philomath News]
What Oregonians Taxpayer Can Expect?
SOURCE– The Oregonians taxpayer is set to receive close to $1,000 when they file their taxes next year. The huge kicker payouts reflect Oregon’s economic resilience after the pandemic and forecasters vastly underestimating the size of the comeback, as well as the impact of inflation and rising wages on state revenues. The state is set to pay out a record-breaking $5.6 billion refund. The Oregonians taxpayer will expect to receive a refund when they file their 2023 tax returns next spring. Those Oregonians who pay more in taxes will expect to receive more refunds.
The economists predict the size of the kicker payout- the top 1 earners with adjusted gross incomes of more than $466,700 will receive a $44,600 refund. The median taxpayer who earned between $35,000 and $40,000 will receive a $980 refund. The average taxpayer who earned just less than $70,000 will receive a $2, 100 refund. Also, the lowest 20% of taxpayers who earned less than $11,400 per year will receive just a $60 refund.
The huge kicker payouts in 2023 resulted from strong personal income over the past 2 years, as well as the impact of inflation and rising wages on state revenues. The state economist, Mark McMullen, said the recent revenues have tracked very closely to expectations.
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