Bill > HB3163

This bill allows counties in Oregon to provide a special property tax assessment for homeowners who are 62 years of age or older, offering potential tax relief for seniors. Under this legislation, counties can choose to adopt an ordinance that enables eligible seniors to have their primary residence assessed at a fixed, potentially lower value for property tax purposes. The bill outlines a detailed process for how this special assessment would work, including requirements for filing a claim with the county assessor, which must be submitted between January 1 and April 15 preceding the tax year. The initially assessed value would be based on the property's real market value from the previous tax year, with subsequent years allowing for modest increases of up to 3% annually. The special assessment would remain in effect until certain triggering events occur, such as the death of the homeowner, sale of the property, or the home no longer serving as the primary residence. Importantly, this special assessment is optional for counties and can be implemented alongside other existing property tax exemptions or limits. The bill specifies that it will apply to property tax years beginning on or after July 1, 2026, and will take effect 91 days after the adjournment of the 2025 legislative session.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3163