Ending Estate Tax in Oregon: The Impact of Mannix’s Initiative

Ever wondered why so many retirees are packing up and moving out of Oregon? It might have something to do with the state’s estate tax. As it stands, Oregon has one of the lowest estate tax thresholds in the country, kicking in at just $1 million. State Representative Kevin Mannix and co-petitioner Michelle Mhoon aim to change that with their new ballot initiative, dubbed the ‘End the Death Tax Act’. They hope to completely abolish the state’s estate tax by 2027. This isn’t the first time such a move has been proposed, but previous attempts to raise the threshold have been unsuccessful. The proposed initiative is drawing attention to Oregon’s unique tax situation; it’s one of only 12 states that still levy an estate tax. This has some concerned about the tax’s impact on local wealth and business, especially as property and asset values continue to rise. On the other side of the coin, the tax brought in a whopping $339 million in 2024, a 297% increase over the past decade. This substantial revenue supports vital public services, leading some to argue that abolishing the tax could widen the wealth gap. The initiative will need 117,173 valid signatures to make it onto the ballot in 2026. Will Oregonians choose to keep the estate tax or vote for its termination? Only time will tell.

Source: www.bendsource.com