Heated testimony on SB 1511: dash‑3 would raise exemption and higher rates for largest estates
LRO explained dash‑3 to SB 1511 would exempt estates under $2.5M, phase in taxes between $2.5M and $3.0M, and raise rates for larger estates; business groups warned of competitiveness and legal risk while unions and tax‑fairness advocates urged maintaining revenue for services.
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The committee heard an extensive public hearing on Senate Bill 1511, which the Legislative Revenue Office presented with a dash‑3 amendment that restructures Oregon’s estate tax. John (LRO) described a three‑segment approach: estates under $2.5 million would owe no tax, estates between $2.5 million and $3.0 million would pay a phased‑in share (20% of the table per $100,000 increment), and estates above $3.0 million would be calculated with higher rates intended to keep the change roughly revenue neutral in initial years. The $2.5 million threshold would be indexed to inflation beginning in 2028.
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