The Great Recession is jeopardizing a decades old program in Oregon that allows low-income seniors and the disabled to postphone their property taxes until after they die.
State Senator Tim Knopp (R) of Bend says reverse mortgages and equity disappearing almost overnight has put pressure on the state program.- and it’s set to expire son.
So, he's pushing his bi-partisan bill, SB 672, that would remove the sunset clause from the "Homestead Property Tax Deferral Program.”
The program started in 1963. Knopp said he’s talked to several Seniors in Central Oregon who say they need it- and that one woman said she’d lose her home without it.