Kicker rebate: Oregonians to get $402 million back next year - KPTV - FOX 12

Kicker rebate: Oregonians to get $402 million back next year

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This graphic shows how much Oregon taxpayers can expect to get from the 'kicker' rebate (Photo: Oregon Dept. of Administrative Service/Office of Economic Analysis) This graphic shows how much Oregon taxpayers can expect to get from the 'kicker' rebate (Photo: Oregon Dept. of Administrative Service/Office of Economic Analysis)
SALEM, OR (KPTV/AP) -

Oregon has a little extra money on hand, so it's sending it back to taxpayers.

Oregonians will get $402 million in "kicker" rebates when they file their taxes next year.

Economists said Wednesday that the median rebate will be $124. The top 1 percent of taxpayers will get $4,600, and the bottom 20 percent will get $10.

Oregon's kicker law is triggered when the state collects more than anticipated during a two-year budget cycle. When that happens, the additional money is kicked back to taxpayers.

In this case, tax increases and an improving economy helped the state generate about 3 percent more money in income taxes than anticipated.

The last time Oregon had a kicker rebate was in 2007.

In the past, kicker rebates have arrived as a check shortly before the holidays. Because of a change made in 2011, the money will now come as a credit when Oregonians file their taxes next year.

Only Oregonians who filed a tax return and paid taxes in 2014 are eligible for the credit.

Copyright 2015 The Associated Press. All rights reserved. KPTV-KPDX Broadcasting Corporation contributed to this report.

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