Property tax reform was the first thing on the agenda this week for a meeting of the Senate Interim Committee on Finance and Revenue.

And what they talked about the most was a possible change to Measure 50.

The measure was passed in 1997. Measure 50 did several things. Basically, it helped hold down property taxes.

Existing taxing districts, such as cities, had their permanent rate locked in. The measure broke the link between a property’s “real market value” and something new called “assessed value.” And Measure 50 also capped the growth rate in property taxes each year to 3% of a property’s assessed value.

The changes also led to distortions in rates and values. The growth in rates has not matched inflation.

What might the Legislature do, with voter approval?

The discussion at the committee ranged from putting Measure 50 into statute or repealing it. One suggestion was then to allow local taxing authorities to make changes in rates with approval by 60% of their voters.

But, as state Sen. Brian Boquist said, somebody would have to convince Oregonians that any change in property taxes is a good idea.