OREGON PROPERTY TAX DEFERRAL

March 13,2008

Rained pretty hard all night and well into the morning. I would guess we got at least a ½ inch of rain, but that’s coming from a person that lives in a high dry desert where on a good rain event for us is 1/8 of an inch and that’s if were lucky. The main thing we get in our country is the wind.
Finally stopped raining in time for us to head towards Myrtle Point to look at some additional homes, as well as the one home the realtor in Coquille told us about yesterday. We covered many side streets that I never even thought existed. The town is sparcly populated just out side of the old main town. There are many really nice homes on these streets and rural roads. There are a lot of homes starting to show up on the market due to economy and the higher gas prices.

One large impact is the younger people in Myrtle Point are being forced to sell out as the local job market is not so great. There a lot of people that have jobs in Coos Bay and Bandon, which is an addition 8 to 9 miles further than from Coquille to Coos Bay. This has the overall impact of 26 miles one way each day. It does not take long to figure out the cost of a commute like this. With the cost of gasoline going up its forcing many more people to leave the area to get closer to their work. The cost for Gasoline up here is getting pretty high. Since we first got here a month ago gas has jumped from $3.04 and is now going for around $3.49 per gallon. Pretty rough when you are using a vehicle that is not a compact, such as a large pickup or SUV that probably only get 12 to 18 miles per gallon. Lots of diesel rigs in this county. Checking at the Safeway Store in Coos Bay,which is pretty close too being the cheapest fuel prices around, diesel is going for $3.83 per gallon.

Still never understood the principal behind why diesel fuel is so much higher than regular, since at one time it was the cheapest fuel you could buy. Here again the consumer pays the piper.

We stopped by the Tax assessors office in Coquille to check on a state program for tax deferral. I had seen it on the Internet, but hardly any one knows about it. Anyway it's called the Oregon Property Tax Deferral for Disabled and Senior Citizens. Looking over it's not that bad of a program, however like all good things there is a final price somebody will have to pay.

Check out this link if you need more information on this program.

http://www.oregon.gov/DOR/PTD/IC_490_675.shtml

There is a form that you’re required to fill out for this Tax Deferral. The Form number is 150-490-015 (Rev 9-07) and here again its called the Oregon Property Tax Deferral for the Disabled and Senior Citizens.

Some of the qualifications: Must be at least 62 year old.
Income based on FAGI for 2007 $37,500.

Also for those that are Veterans there is another program that is available for you, which gives you a 10% discount on you home taxes yearly. It is one program that you don’t have to pay anything back on. It’s not much, but it helps I am sure. You need to check with your county for the form you need to fill out. One thing about Oregon they take care of there Veterans..