HB 3163
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 individuals who are at least 62 years of age.
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Sign in to take actionPublic sentiment
Support
82%
Oppose
18%
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill allows Oregon counties to offer a special property tax assessment for the primary residences of homeowners aged 62 or older. The value would be based on the property’s real market value as shown on the tax statement from the previous year. Counties can establish the procedures for administering this program, and homeowners must file a claim to receive the special assessment. Certain circumstances, such as the death of a claimant or the sale of the property, could disqualify a residence from receiving the special assessment.
Key provisions
- Counties can opt to provide a specially assessed value for owner-occupied primary residences of individuals 62+.
- The special assessment is initially based on the property’s real market value from the previous tax year.
- A claim must be filed by the homeowner with the county assessor.
- The residence’s maximum specially assessed value increases annually by 103% of the previous year’s assessed value or 100% of the prior year’s maximum specially assessed value, whichever is greater.
- Certain events, like the death of a claimant or sale of the property, can disqualify the residence from receiving the special assessment.
- The special assessment is in addition to other property tax exemptions.
- Claims must be filed between January 1 and April 15 each year.
- Appeals can be made to the Oregon Tax Court if a claim is denied.
Who is affected
- Senior citizens (62 years of age or older)
- Homeowners
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
Arguments in favor
Reasons to support this legislation.
Supporters of the bill argue that it is essential to alleviate the financial burden on seniors, who often struggle to make ends meet due to inefficient allocation of tax dollars. Many that reducing property taxes for seniors would allow them to keep more of their hard-earned savings and maintain a better quality of life. The proposed specially assessed value provision would specifically benefit owner-occupied primary residences of individuals at least 62 years old, helping to ensure they can continue living in their homes without financial burden, particularly on fixed incomes. By supporting this bill, advocates aim to address the often-overlooked status of seniors and disabled veterans, who are frequently overlooked in budgetary decisions.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
HB 3163, citing concerns that reducing property taxes for seniors could exacerbate existing issues with the city's property tax system. They argue that measures such as Measures 5 and 50 have led to compression losses and limited city growth due to the 3% annual cap on property tax values, which would be further strained by providing a special assessment for seniors. In contrast, testifiers suggest that a means test based on income could help ensure those who need an exemption the most receive it, while also protecting city revenue, and propose establishing a threshold for home value to provide some relief for seniors. By prioritizing the stability of the property tax system, essential services such as police, fire, roads, parks, and education would remain adequately funded.