OR HB2124

Directs the Legislative Revenue Officer to study land value taxation, defined as a property tax system imposing higher rates on land assessments than on improvement assessments

Study must examine tax burden effects of transitioning from current Ballot Measure 5 (1990) and Ballot Measure 50 (1997) property tax system to land value taxation

Study must include simulation models using true market assessments, analysis of economic incentive effects on urban and rural land use classes, and impacts on rural enterprise zones

Requires evaluation of potential tax relief measures including homestead exemptions and property tax deferral for financially overburdened homeowners

Report due to interim revenue committees by September 15, 2026; study provision repeals at convening of 2027 legislative session