What are the Oregon estate tax rates?
Ten percent to 16 percent under ORS 118.010. The lowest rate applies to the portion of an Oregon taxable estate between $1,000,000 and $1,500,000, and the top rate applies above $9,500,000. Because the brackets start at $1,000,000, a supportable date-of-death value for tangible property often changes the tax owed, not just the paperwork.
Who has to file an Oregon personal property return?
Every owner of taxable personal property, such as business equipment, furniture, and fixtures, files a return with the county assessor on or before March 15 each year under ORS 308.290, and the property is assessed at its real market value as of January 1 at 1 a.m. under ORS 308.210. An independent appraisal is useful when the assessor's formula value does not fit an asset's actual condition or market.
How does an Oregon court divide personal property in a divorce?
As the court finds just and proper in all the circumstances, under ORS 107.105(1)(f), with a rebuttable presumption that both spouses contributed equally to property acquired during the marriage. Oregon is not a community property state and the statute fixes no valuation date, so a current appraisal of vehicles, collections, equipment, or a business interest is what the negotiation runs on.