Bill
Bill > HB3163
OR HB3163
Relating to a specially assessed value for the residences of seniors; prescribing an effective date.
summary
Introduced
01/13/2025
01/13/2025
In Committee
01/17/2025
01/17/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act would let counties opt to grant a specially assessed property tax value for the homes of people who are at least 62 years old. (Flesch Readability Score: 66.5). Allows counties to adopt an ordinance or resolution that provides, for purposes of ad valorem property taxation, a specially assessed value for the owner-occupied primary residences of individ- uals who are at least 62 years of age. Takes effect on the 91st day following adjournment sine die.
AI Summary
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.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Public Hearing held. (on 02/20/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3163 |
HB 3163 Witness Registration 20250220 | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/291933 |
Senior Property Taxes | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/291752 |
HB 3163 Preliminary SMS | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/CommitteeMeetingDocument/291751 |
Open Government Impact Statement for HB3163 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/84132 |
BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/HB3163/Introduced |
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