Gasoline Tax: 58.40 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 64.40 cents/gallon (Includes all state, local, and federal taxes)
Municipalities can enact their own sales tax.
Personal Income Tax
Personal Income Tax Rate Range: Four brackets from 4.75% to 9.9% (on income greater than $125,000)
Standard deduction: Single Filing Status: $2,910 (additional $1,200 if over 65 or blind).
Personal Exemption Allowance: $256. Dependent Exemption: $256. Taken as tax credit
Itemized Deductions Allowed?: Yes, subject to limitations
Retirement Income
Social Security: Exempt
IRAs: Taxable at ordinary income tax rates*
401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
Private pensions: Taxable at ordinary income tax rates*
Public Pensions: Taxable at ordinary income tax rates*
Military Pay
Active Duty Pay: Taxable pay may be exempt up to $6,000. Oregon National Guard pay exempt.
Military Retirement Pay: Taxable at ordinary income tax rates.*
If all of your months of federal service occurred or points were earned before Oct. 1, 1991, subtract 100% of the taxable federal pension income you reported on your federal return.
If you have no months of service or points earned before Oct. 1, 1991, you cannot subtract any federal pension.
If your service occurred or points were earned both before and after Oct. 1, 1991, you will subtract a percentage of the taxable federal pension income you reported on your federal return. To determine your percentage, divide your months of service or points earned before Oct. 1, 1991, by your total months of service or points earned. Round your percentage to three places (example: 0.4576 = 45.8%). Once you determine the percentage, it will remain the same from year to year. Source: 2016 Oregon Publication OR-17
Military Disability Pay: Exempt
VA Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Taxable at ordinary income tax rates* (subject to same rules as military retirement pay)
*Retirement income credit of lesser of tax liability or 9% of taxable retirement income if household income less than $22,500. State allows county- and city-level income tax. Federal income tax deductible but limited to $7,050 for all filers.
Property Tax
Local municipalities average 0.81% of the property's assessed value.
Calculation of assessed value: 100% of fair market value OR the greater of 103% of last year's fair market value (maximum value) or last year's maximum value, whichever is less. Assessed annually.
Relief programs for:
Owner-Occupied: Maximum assessed value cannot increase more than 3% annually.
Disabled or Over 62: May be eligible to defer tax payments if income less than $51,000
Disabled Veterans/Surviving Spouses: May qualify to exempt up to $32,512 of assessed value if have disabilities of 40% or more.
Oregon National Guard or Reserve Called to Duty: Reduction of over $111,600 of assessed value available.
Personal Property Tax: Yes. Rates and exemptions vary.
Inheritance & Estate Taxes: Estates over $1 million are taxed between 10% and 16%; some family members are exempt. There is no inheritance tax.
Premium and Life members can consult our financial staff for education and consumer advice.
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