Bill > SJR2

This joint resolution proposes an amendment to the Oregon Constitution that simplifies how property tax exemptions and credits are handled. Specifically, the resolution would exclude partial property tax exemptions and property tax credits from the requirement that a property's maximum assessed value must be redetermined when an exemption or credit is first granted or disqualified. This means that when a property receives a partial tax exemption or tax credit, its maximum assessed value would not automatically be recalculated, which could help stabilize property tax assessments. The proposed amendment would apply to partial exemptions and tax credits provided by law before, on, or after July 1, 2026, and would be referred to Oregon voters for approval or rejection at the next regular general election. The amendment includes a sunset provision that would repeal the new section on January 2, 2028, which provides a time-limited approach to implementing this change in property tax assessment procedures.

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SJR2