When is an Oregon estate tax return required?
When the gross estate, counting all real, tangible, and intangible property, reaches $1,000,000 at death. Form OR-706 and any tax are due to the Oregon Department of Revenue within 12 months of the date of death, and legislation (Senate Bill 1511) raises the filing threshold for deaths in 2027 and later.
Do nonresidents owe Oregon estate tax on personal property kept in Oregon?
They can. Oregon's fractional formula taxes nonresident decedents on Oregon real estate and Oregon-situs tangible personal property, such as vehicles, equipment, and collectibles physically in the state, while excluding their intangible assets. Residents instead include worldwide intangibles plus Oregon tangibles in the numerator.
How must values be substantiated on Form OR-706?
Every reported value needs support: fair market value as of the date of death, or six months later if alternate valuation is elected, with copies of any appraisals attached and a written explanation of the method when no appraisal was obtained. Oregon's rule calls a fee appraisal the common and best practice for most personal property without making it mandatory for every item.
What happens if an executor skips a needed appraisal in Oregon?
The Department of Revenue can commission its own. ORS 118.535 authorizes the department to have a fee appraiser value estate property when the executor has not obtained an appraisal needed for compliance, which usually costs the estate more control over the outcome than obtaining a defensible appraisal up front.