Oregon Statutes 307.627 – Termination of exemption; additional taxes
(1) If, after application has been approved under ORS § 307.600 to 307.637, a declaration defined in ORS § 100.005 with respect to the property is presented to the county assessor or tax collector for approval under ORS § 100.110, or if the county assessor discovers that the multiple-unit housing or a portion of the multiple-unit housing is changed to a use that is other than residential or housing, or if the exemption was granted for housing being or becoming subject to a low income housing assistance contract with an agency or subdivision of this state or the United States and the housing is not housing subject to a low income housing assistance contract as of a date the housing is required to be subject to a low income housing assistance contract in order to receive the exemption:
Terms Used In Oregon Statutes 307.627
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Contract: A legal written agreement that becomes binding when signed.
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(a) The exemption granted the multiple-unit housing or portion under ORS § 307.600 to 307.637 shall terminate immediately, without right of notice or appeal;
(b) The property or portion shall be assessed and taxed as other property similarly situated is assessed and taxed; and
(c)(A) Notwithstanding ORS § 311.235, there shall be added to the general property tax roll for the tax year next following the presentation or discovery, to be collected and distributed in the same manner as other real property tax, an amount equal to the difference between the amount of tax that would have been due on the property or portion had it not been exempt under ORS § 307.600 to 307.637 for each of the years, not to exceed the last 10 years, during which the property was exempt from taxation under ORS § 307.600 to 307.637.
(B) In the case of multiple-unit housing described in ORS § 307.603 (5)(a), this paragraph applies only if the low income housing assistance contract to which the housing was or was to become subject was not entered into, breached or terminated prematurely.
(2) If, at the time of presentation or discovery, the property is no longer exempt, additional taxes shall be imposed as provided in this section, but the number of years that would otherwise be used to compute the additional taxes shall be reduced one year for each year that has elapsed since the year the property was last granted exemption beginning with the oldest year for which additional taxes are due.
(3) The assessment and tax rolls shall show ‘potential additional tax liability’ for each property granted exemption under ORS § 307.600 to 307.637.
(4) Additional taxes collected under this section shall be deemed to have been imposed in the year to which the additional taxes relate. [Formerly 307.675]
[1975 c.428 § 5; 1979 c.425 § 3; 1989 c.1051 § 3a; 1991 c.459 § 73; 1995 c.596 § 5; 1997 c.541 § 136; 1999 c.808 § 5; 2003 c.457 § 5; renumbered 307.612 in 2005]