April 15 Deadline to Apply for Senior Property Tax Deferral
The Oregon Property Tax Deferral for Disabled and Senior Citizens, allows qualifying applicants to delay property tax payments while they remain in their own home.
The deadline to submit an application for the State of Oregon pay property taxes on qualifying homes is tax day, April 15th. Once approved, the state will pay taxes and recoup the amount when the home is sold. Approximately 6,500 homeowners in Oregon currently benefit from this program.
“Eligible Oregonians who want their property taxes paid in November must meet the April 15 filing deadline,” said Bronson Rueda, program manager at the Department of Revenue. “If we don’t get their forms by April 15, we can’t pay their property taxes this year.”
The Property Tax Deferral for Disabled and Senior Citizens program was created in 1963 to help fixed income and disabled Oregonians remain in their homes. In 2011 and 2013 the legislature adjusted the eligibility criteria to ensure the program remained solvent.
In 2014, Rep. David Gomberg (D-Otis) successfully advocated for a law to reduce the interest rate charged on deferral balances. Previously, balances were charged 6% compound interest; that has been changed to simple interest. This will protect individuals in the program, and prevent the program from making a profit off the individuals it is intended to serve.
For more information, or if you are interested in applying, please visit http://www.oregon.gov/DOR/scd/pages/index.aspx