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OR SJR2
Joint Resolution
AI Summary
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Amends Oregon Constitution Article XI, Section 11 to exclude partial property tax exemptions and tax credits from triggering a recalculation of a property's maximum assessed value when the exemption or credit is first granted or removed
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Under current law, when property gains or loses a partial exemption, special assessment, or tax credit, its maximum assessed value must be redetermined using area-wide ratios; this amendment eliminates that requirement for partial exemptions and credits
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Applies retroactively to partial exemptions and credits provided by law before, on, or after July 1, 2026
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Requires voter approval at the next regular general election (November 2026) before taking effect
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Creates a new temporary Section 11m specifying the amendment's application, which self-repeals on January 2, 2028
Legislative Description
Proposing an amendment to the Oregon Constitution relating to excluding partial exemptions and property tax credits from the requirement of redetermining the maximum assessed value of property granted exemption or credit.
Last Action
In committee upon adjournment.
6/27/2025