The Oregon Senate passed House Bill 3712 A on third reading on Tuesday, adopting modest changes to the state's Homestead Property Tax Deferral Program intended to expand eligibility and require a legislative study of the program.

Senator Patterson, carrying the measure, described the program's mechanics: qualifying homeowners 62 or older (or those who qualify for Social Security disability) can defer property taxes via the Senior Property Tax Deferral Revolving Account; a lien is placed on the homestead and interest accrues at 6% annually. HB 3712 A increases the household income limit from $60,000 to $70,000, raises the homestead real market-value limit to 150% of the county median real market value for homeowners with residency under 15 years, and requires the Legislative Revenue Office to study the program and report back by Sept. 15, 2026.

Patterson said the program is underutilized by qualified Oregonians and framed the bill as a modest update to allow more lower-income seniors and people with disabilities to remain in their homes. The floor record shows the bill passed the Senate and will apply to property tax years beginning in 2026.

Clarifying details from the floor: recertification is required every two years under existing program rules; the program retains residency and insurance requirements; the bill sunsets and reporting requirements were described by the sponsor. The bill passed with a recorded roll call showing a constitutional majority in favor.