OR SB1094

Creates a property tax credit up to $2,050 for Oregon residents serving in the National Guard, military reserves, or organized militia who are deployed for more than 178 consecutive days under federal authority, with the credit amount increasing 3% annually

Replaces existing partial property tax exemptions for disabled veterans with property tax credits of $475 (for 40%+ disability) or $575 (for 40%+ service-connected disability), increasing 3% annually

Extends disabled veteran property tax credits to surviving spouses who have not remarried and to qualified veterans residing in nonprofit homes for elderly persons

Phases out current partial exemption programs starting July 1, 2026, while allowing homesteads already receiving exemptions as of July 1, 2025 to continue under the old system

Takes effect on the 91st day following adjournment of the 2025 legislative session, with credits applicable to property tax years beginning on or after July 1, 2026