Oregon 2023 Regular Session

Oregon Senate Bill SB1012

Introduced
2/22/23  
Refer
2/24/23  
Report Pass
4/5/23  
Engrossed
4/12/23  
Refer
4/13/23  
Refer
4/25/23  
Refer
4/25/23  

Caption

Relating to the assessment of rebuilt homesteads; prescribing an effective date.

Impact

The legislation aims to provide temporary financial relief to homeowners affected by the wildfires, thereby facilitating faster recovery and rebuilding efforts. By freezing the assessed value, homeowners will not experience a sudden spike in property taxes as they rebuild their homes. The bill is set to expire on January 2, 2030, suggesting a finite opportunity for homeowners to benefit from this program, which may encourage quicker rebuilding after the catastrophic events.

Summary

Senate Bill 1012 proposes measures related to the property tax assessment of rebuilt homesteads in Oregon that were destroyed by wildfires in September 2020. Specifically, the bill allows for homesteads that are rebuilt by the same owner on the same lot to have a 'frozen' assessed value, which is set equal to the assessed value of the destroyed homestead. This provision aims to alleviate the financial burden on homeowners who lost their properties to the wildfires by maintaining their property tax assessments at pre-disaster levels for the 2020-2021 tax year.

Contention

While the bill is primarily focused on aiding wildfire victims, there may be debates around the fairness of tax policies for homeowners in different circumstances or geographical areas. Critics could argue that the measure disproportionately favors those affected by this specific disaster while leaving other property owners vulnerable to normal tax increases. Additionally, there may be concerns over the long-term budget implications for local governments as this bill could limit their revenue generation from property taxes in affected areas.

Companion Bills

No companion bills found.

Previously Filed As

OR SB1545

Relating to the assessment of rebuilt homesteads; prescribing an effective date.

OR HB3139

Relating to the assessment of rebuilt homesteads; prescribing an effective date.

OR HB3446

Relating to the assessment of rebuilt homesteads; prescribing an effective date.

OR HB3461

Relating to the deferral of property taxes on homesteads rebuilt after wildfires; prescribing an effective date.

OR SB712

Relating to maximum assessed value; prescribing an effective date.

OR HB2086

Relating to property tax assessment; and prescribing an effective date.

OR HB4054

Relating to special assessment of historic property; and prescribing an effective date.

OR HB3190

Relating to historic property special assessment; and prescribing an effective date.

OR SB655

Relating to a frozen assessed value for the homesteads of certain individuals; prescribing an effective date.

OR SB568

Relating to a specially assessed value for the homesteads of seniors; prescribing an effective date.

Similar Bills

NJ A254

Permits eligible claimant who is proportionate owner paying entire property tax bill to collect entire homestead property tax reimbursement amount.

NJ A975

Permits eligible claimant who is proportionate owner paying entire property tax bill to collect entire homestead property tax reimbursement amount.

FL H1105

Rescinding a Homestead Exemption Application

NJ A5089

Prohibits homestead property tax rebates and credits and ANCHOR property tax benefits from being paid to property owners who move out of State.

MN HF1343

Property tax provisions modified, and identification requirements for homestead determination modified.

FL H0775

Assessment of Homestead Property

NJ A3354

Converts senior freeze reimbursement into credit applied directly to property tax bills.

NJ S259

Converts senior freeze reimbursement into credit applied directly to property tax bills.