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Committee reviews extension of nonprofit low-income rental property-tax exemption (SB 104)
Summary
Senate Bill 104 would extend the property-tax exemption for nonprofit low-income rental housing from June 30, 2027, to June 30, 2033. Staff reported the exemption is the largest of the three reviewed, with nearly 900 accounts and an average real market value lower than vertical housing exemptions; Tax Fairness Oregon supported the extension.
Senate Bill 104, which would extend the property-tax exemption for nonprofit low-income rental housing, was discussed in a Feb. 5, 2025 public hearing before the Senate Committee on Finance and Revenue.
Bo Olin of the Legislative Revenue Office told senators the exemption’s apparent policy purpose is to increase the supply of low-income rental housing in Oregon. The exemption applies to property owned, purchased, leased or held for development by nonprofit corporations (501(c)(3) and (4) entities and certain partnerships) where occupancy income limits and other eligibility…
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