Oregon Senate Bill 655 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 7-0)
Status: Failed on June 25 2023 - 100% progression
Action: 2023-06-25 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Provides, for purposes of ad valorem property taxation, frozen assessed value for homestead of individual at least 68 years of age, or person with disability, if homestead and individual would be eligible for homestead property tax deferral program but for fact that homestead is pledged as security for reverse mortgage. Provides, for purposes of ad valorem property taxation, frozen assessed value for homestead of individual at least 68 years of age, or person with disability, if homestead and individual would be eligible for homestead property tax deferral program but for fact that homestead is pledged as security for reverse mortgage. Provides that frozen assessed value equals assessed value of homestead for property tax year immediately preceding first property tax year to which valid claim relates. Provides that, after occurrence of certain circumstances, homestead shall be assessed and taxed as other property similarly situated is assessed and taxed. Sunsets program after six years. Maintains frozen assessed value for homesteads granted frozen assessed value before sunset. Takes effect on 91st day following adjournment sine die.

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

Sen. Tim Knopp [R]	Sen. Richard Anderson [R]	Sen. Fred Girod [R]	Sen. Dennis Linthicum [R]
Sen. David Smith [R]	Sen. Kim Thatcher [R]	Sen. Suzanne Weber [R]

Date	Chamber	Action
2023-06-25	Senate	In committee upon adjournment.
2023-03-20	Senate	Public Hearing held.
2023-01-15	Senate	Referred to Finance and Revenue.
2023-01-09	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/SB655
Text	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB655/Introduced
Supplement	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/66606
Supplement	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/265835
Supplement	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/CommitteeMeetingDocument/266113