Salem, Oregon – Representative Christine Drazan (R-Canby) has proposed a measure aimed at granting a property tax exemption for seniors who fit specific requirements in order to relieve the financial load on Oregon’s older homeowners. Encapsulated in House Bill 3755, the idea calls for an initial five percent exemption on property taxes for eligible seniors, with yearly plans for a steadily rising exemption.
Under this legislation, the exemption is particularly meant for homeowners who are at least 65 years old, have lived in their existing homes for at least ten years, and earn a household income of no more than $150,000 yearly. This strategic focus comes at a critical time, as Rep. Drazan highlighted in a recent news release, noting that seniors have surpassed children in number, representing 19.6 percent of Oregon’s population as of 2023.
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According to the measure, the property tax exemption would rise five percent each year. This system is meant to finally result in a notable decrease, potentially eliminating property taxes for elderly people as they age further. The slow rise in the exemption % seeks to offer continuous assistance, therefore allowing for the financial difficulties that rise as one ages.
This legislative initiative addresses the growing expenses that disproportionately impact the elderly, including electricity, healthcare, and property taxes—expenses that have witnessed notable rise in recent years. For example, Medicare payments alone rise by 57.5% while Oregon’s healthcare expenditures jumped by 49% in 2022.
“Our seniors need help,” said Representative Drazan. “Legislative spending needs to reflect the needs of our communities. HB 3755 make new investment strategies that support our aging population.”
This statement emphasizes a more general commitment to change budgetary measures to assist seniors, who are a growing demographic facing unique economic pressures.
To take advantage of this suggested tax relief, qualified homeowners would have to apply yearly and provide the necessary paperwork proving their status. As stated in the measure, the exemption would cover property tax years starting on July 1, 2026. Should the homeowner sell the house, die, or stop living in the house, the exemption would be revoked, though.
With the passage of HB 3755, seniors in Oregon will be able to significantly change the economic terrain. The measure seeks to give elderly citizens a more sustainable living environment by lowering the property tax load, therefore ensuring their ability to keep their houses free from the weight of rising taxes. This legislative not only acknowledges the financial reality seniors experience but also addresses the urgent need for solutions supporting a dignified quality of life for every aged person in the state.
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