Oregon Statutes 307.245 – Denial of exemption for failure to reflect exemption by rent reduction
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The funded property tax exemption granted under ORS § 307.241 to 307.248 may not be granted in any year following a year for which the corporation has failed to satisfy the county assessor or the Department of Revenue that the exemption granted in the previous year has been reflected by a reduction in the amount of rent that would otherwise be paid for occupancy of the facility by its residents. [1977 c.411 § 5; 2005 c.94 § 33]
Terms Used In Oregon Statutes 307.245
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.