Sen. Tim Knopp (R-Bend)
Introduces Bill To Remove Sunset Date On Senior Homestead Property Tax Deferral Program
Salem, OR – Senator Tim Knopp introduces Senate Bill 672 to help ensure Oregon’s senior and disabled who currently use property tax deferrals to continue to utilize the program. Senate Bill 672 currently has a total of 39 sponsors and has strong bi-partisan support. The bill will remove the ending date for the Homestead Property Tax Deferral Program and provide long term property tax relief to Oregon’s senior and disabled.
“With this bill Oregonians that currently use Oregon’s Homestead Property Tax Deferral Program won’t be left wondering about their future” Sen. Knopp states. “Individuals who are currently enrolled in the program are on fixed incomes, making it hard to adjust to rising property taxes. I want to send a strong and clear message that Oregon’s senior and disabled have tax certainty for the long term.”
Oregon’s Homestead Property Tax Deferral established in 1963 was created to help Oregonians stay in their homes by deferring their property taxes until they are paid back or the homeowner no longer lives there. Legislative sessions in 2011 and 2012 have brought change to the Homestead Property Tax Deferral Program. Most recently the legislature expanded coverage to help Oregon Seniors by adding reverse mortgages to the program.