Copyright The Oregonian
Oregon taxpayers are on track to see a $1.4 billion kicker next year, state economists said Friday. Due to the state’s unique kicker law, which returns state dollars to taxpayers when state revenue comes in substantially higher than projected, Oregonians will either receive heftier tax refunds or owe less money to the government when they file their 2025 taxes. Oregon taxpayers will be able to claim rebates equal to about 9.9% of their state personal income tax liability for 2024. Only those who filed taxes for the 2024 and 2025 tax years will be eligible for the credits, according to the state’s Office of Economic Analysis. State economists verified last week that Oregon’s revenue for the biennium that ended in June exceeded their forecasts by $1.41 billion, the fourth largest surplus in state history, according to the economic analysis office. That amount is lower than the $1.7 billion rebate that state economists predicted in February. Oregonians have seen a series of massive kickers in recent years, including a record $5.6 billion rebate in 2024. State Economist Carl Riccadonna, who was hired last year, has made adjustments to the state’s projection model in an effort to more accurately predict revenue moving forward. Taxpayers can use the kicker to pay any state debt they owe, including existing tax debt, child support, court fines and school loans. They can also donate their entire kicker to the Oregon State School Fund for K-12 public education or donate part or all of their kicker to various approved charities. To calculate how much you can expect from the rebate next year, enter how much Oregon income tax you paid in 2024 on the tool below. You can find that figure on line 24 of your 2024 Form OR-40.
