To address the racial inequities in our tax system, it helps to have better information. Understanding the extent to which the tax system, and particular tax provisions, impact racial disparities can help us find ways to reduce those disparities. Once you’ve filed your tax return, all you have to do is wait for your refund to arrive. If you want to check the status of your Oregon tax refund, you can visit the Oregon Income Tax Refund page.

Oregon’s maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Oregon’s %. You can learn more about how the Oregon income tax compares to other states’ income taxes by visiting our map of income taxes by state. In Oregon, property tax rates vary because they are determined on a local level. You can take certain deductions that aren’t mentioned elsewhere on your tax return.

Oregon Tax Court Reduces Property Value of Home Improvement Store

Married couples filing jointly pay 1.5% on income above $200,000 and 3% on income above $400,000. Many states offer varying forms of assistance to first-time oregon state income tax and low-income homebuyers. Assistance often includes low down payment home loans with competitive mortgage rates, tax credits, and down payment assistance.

• Interest calculated on refunds will start to accrue no earlier than May 30, 2024 (45 days after April 15, 2024).
• The capital gains tax was created as its own tax in 1922, at a rate of 12.5%.
• For all of the tax forms we provide, visit our Oregon tax forms library or the ‘s tax forms page.
• The Texas State Affordable Housing Corporation offers a mortgage called Home Sweet Texas for low-to-moderate income borrowers that comes with down payment assistance in the form of a grant or a forgivable loan.
• For single filers, this is a 1.5% tax on income above $125,000 and 3% on income above $250,000.

VA loans are available to active military members and veterans who meet minimum service requirements. In some cases, you may be able to combine the assistance you’re getting from your state’s agency with other resources. This may include local or nonprofit down payment help or other homebuyer assistance.

Other Oregon tax facts

Virginia Housing has conventional and government-backed mortgage options that can be combined with a down payment assistance grant or loan. South Carolina Housing offers a low-interest mortgage with down payment assistance for low-to-moderate income households. You may also qualify for assistance with the Palmetto Home Advantage program or the County First initiative. You may be eligible for a mortgage and down payment assistance from the North Carolina Housing Finance Agency. You can also get a tax credit on your mortgage interest for up to $2,000 per year. The Mississippi Home Corporation has mortgages with down payment assistance, a grant program for public school teachers in certain counties and subject areas, and a mortgage credit certificate.