Oregon Property Taxes Might Be Changing — What It Means
You may have heard whispers about Oregon shaking up its property tax system — and those whispers just got a little louder.
State lawmakers gave a green light to HB 2321, a bill that doesn’t change taxes yet, but starts a much bigger conversation: How should we handle property taxes in Oregon moving forward?
Let’s break it down in plain English so you know what’s happening — and what it might mean for your wallet.
What’s Actually Happening?
The Oregon House Revenue Committee just unanimously approved HB 2321, a bill aimed at exploring ways to modernize the state’s outdated property tax system.
This bill kicks off a formal conversation about whether we should update two old tax laws — Measure 5 and Measure 50 — that have shaped how much we all pay in property taxes since the 1990s.
A Quick Refresher: Measures 5 and 50
These two ballot measures were passed back in the ‘90s when Oregon voters were worried about rapidly rising property taxes.
Here’s what they did:
Measure 5 limited how much could be taxed for schools and local government services.
Measure 50 set the “assessed value” of your home at 90% of what it was worth in 1995–96, and capped the annual increase at just 3%.
So even though your home might have doubled in value (or more), the tax you pay is based on a much lower number.
Why This Matters Now
Back then, this tax cap helped homeowners. But fast forward to today, and local governments are struggling.
Cities have grown, but budgets haven’t.
School districts are stretched thin.
Inflation and rising costs have outpaced the 3% growth limit.
The tax system is no longer tied to real home values.
And with Oregon communities facing budget shortfalls, something has to give.
So What’s Being Proposed?
Right now, nothing is set in stone.
HB 2321 simply says: Let’s study the system. Let’s hear from homeowners, city leaders, school officials — everyone.
Some leaders are suggesting we move back toward taxing homes based on real market value, not an outdated assessed value from nearly 30 years ago.
What Could That Mean for You?
Let’s talk about the possibilities:
Homeowners:
You might see higher property taxes down the line if taxes are tied more closely to your current market value.
Sellers:
Buyers might be more hesitant if property taxes rise — so timing your sale (or pricing it right) could matter more than ever.
Buyers:
Understanding how your property taxes are calculated could make or break your decision to buy in a specific neighborhood.
What Should You Do Now?
There’s no need to panic — nothing’s changing overnight. But knowledge = power, especially when you own property.
I’m here to help you:
Understand how your home’s market value compares to its assessed value
Plan ahead if you’re thinking of buying or selling
Keep you informed as Oregon’s tax conversations evolve
The best real estate decisions start with real conversations. So let’s have one.
