Bill > HB2362

This bill introduces a new graduated exemption from Oregon estate tax that will apply to estates of individuals who die on or after January 1, 2026. The exemption amount depends on the total value of the Oregon taxable estate, with larger estates receiving smaller exemptions that ultimately phase out completely. Specifically, if an estate is less than $4.5 million, the full $1.5 million exemption applies; as the estate value increases, the exemption decreases in increments, ranging from $1.2 million for estates between $4.5-$5.5 million down to $300,000 for estates between $7.5-$8.5 million. No exemption is available for estates valued at $8.5 million or more. The bill amends existing Oregon Revised Statutes (ORS) related to estate taxation, adding this new exemption structure to the state's tax code. The bill will take effect 91 days after the 2025 regular legislative session adjourns, giving taxpayers and estate planners advance notice of the changes. This legislation aims to provide some tax relief for smaller and mid-sized estates while gradually reducing benefits for larger estates.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2362