State Representative Christine Drazan has introduced a bill that creates a 5% property tax exemption that increases annually for homeowners who are at least 65 years old, have lived in their homes for at least 10 years and have a household income of no more than $150,000 per year.
State demographic data shows seniors outnumber children in Oregon for the first time since 2023 at 19.6%, and the demand for elderly care is increasing rapidly.
According to recent projections, property taxes, utilities and medical costs are among the fastest-growing expenses for seniors. In 2022, health care costs increased by 49% and Medicare costs increased by 57.5%.
Representative Drazan said our seniors need help. She said legislative spending needs to reflect the needs of our communities, adding that House Bill 3755 makes new investment strategies that support our aging population.
