Oregon legislators advance House Bill 3755 to exempt senior homeowners from property taxes

Oregon seniors will soon see relief from rising property taxes thanks to House Bill 3,755, which proposes a 5% property tax exemption for homeowners aged 65 and older. This legislation, discussed during the House Committee on Revenue meeting on March 18, 2025, aims to support seniors who have lived in their homes for at least a decade and have an annual household income of no more than $150,000.

The bill addresses a growing crisis affecting seniors across the state, as many struggle to maintain their homes amid escalating living costs. Public testimony highlighted the widespread nature of this issue, with seniors from various regions, including St. Helens, Hillsborough, Portland, and Brookings, sharing their fears of losing their homes due to financial pressures.

The urgency of this legislation is underscored by demographic shifts in Oregon, where the elderly population has surpassed that of children since 2023. As the demand for services catering to seniors continues to rise, lawmakers recognize the need to adjust budgetary priorities to reflect these changes. The proposed tax exemption is designed to provide stability for older adults, many of whom are on fixed incomes and face tough financial decisions regarding housing, healthcare, and daily living expenses.

In addition to the property tax exemption, the meeting also addressed the broader context of rising healthcare costs in Oregon, which have increased significantly faster than the national average. This trend further exacerbates the financial strain on seniors, who are already grappling with high housing costs and utility bills.

House Bill 3,755 not only aims to alleviate the financial burden on seniors but also seeks to foster stable communities where older residents can thrive. By ensuring that seniors can remain in their homes, the legislation promotes intergenerational connections and supports local economies.

The bill has garnered support from various stakeholders, including constituents who have advocated for its passage. As the legislative process continues, the focus remains on crafting effective policies that prioritize the needs of Oregon's aging population, ensuring they can enjoy their retirement years with dignity and security.