Oregon Tax Changes - January 2025

Oregon Personal Income Tax—Oregon sets 2025 first-time home buyer savings account subtraction amount.

The Oregon Department of Revenue provided notice that an individual first-time home buyer savings account holder may subtract up to $6,125 of their 2025 deposits and earnings from Oregon income when filing their tax year 2025 return in 2026. Joint filers will be able to subtract up to $12,245. To qualify, the account holder or beneficiary cannot have owned or purchased a residence in the three years prior to the date of their planned purchase. Account holders qualify for a cumulative tax subtraction up to $50,000 over a 10-year period. (2025 First-Time Home Buyer Savings Account Subtraction, Or. Dept. Rev., 01/07/2025.)

‍