Oregon Tax on Out of State Property?
I have a friend that's moving to Oregon and selling their home in Hawaii. Their current home is slated to sell in the first week of 2017 but they recently received documents and found some verbiage about being taxed 5% on out of state properties sales if / when they are Oregon residents. Not sure on the details of the verbiage but I'm skeptical.
Their 2016 taxes will be under Hawaii and 2017 will be Oregon. So their thought is that if they sell in 2016, they won't be hit with this 'out of state tax' that Oregon supposedly has. Is there any validity in any of this? Or is this nothing to worry about? I have a feeling that what they're reading has to do with the overall Oregon capital gains tax in general.