Legislature Extends Tax Break for Historics

PORTLAND-The Oregon State Legislature gave final approval this week approved a bill that extends a state tax break on historic properties. House Bill 2270 would continue the tax break, scheduled to run out in 2002, until 2010.

The 25-year-old historic special assessment program freezes the assessed (taxable) value of a property for15 years as an incentive to maintain the historic nature of the structure. In 1995, a bill was passed giving participants another 15-year exemption, but it became mired in litigation over whether the properties should be reassessed before being frozen again.