Bill gives death tax relief for Ag

By Taxpayers Association of Oregon

The Oregon Senate this week passed Senate Bill 498 A, which provides up to $15 million of farm, forest, and fishing property and land to be excluded from the value of estates that pay the Oregon estate tax.   Oregon has one of the nation’s most costly estate taxes and farmers and foresters need relief.

According to OSU, Oregon has 339,256 fewer acres in farms than it did five years ago (a statewide loss of 2.1%; national decline of 1.6%).  Oregon needs to protect its family farms from generation to generation.

Senator Bill Hansell said, “This is a major issue for Oregon’s natural resource families who fuel our economy. Cooperate farming organizations are ready to gobble up farmland, including multigenerational farms facing foreclosure due to an unpayable estate tax bill. SB 498 ensures that our natural resource families get the relief they both need and deserve”

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