Oregon Statutes 311.642 – Compromise property tax payment from purchaser of business personal property; release of lien; total amount of taxes remains personal liability of taxpayer at time of assessment; refund to purchaser
(1)(a) The tax collector of a county may accept from a purchaser of business personal property on which property taxes were delinquent on the date of the purchase transaction a compromise payment that is less than the total outstanding amount of taxes, interest and fees.
Terms Used In Oregon Statutes 311.642
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Personal property: All property that is not real property.
(b) The amount of the compromise payment must be equitable in consideration of all the facts and circumstances of the transaction in which the purchaser acquired the property.
(2) Upon receipt of the compromise payment, the tax collector shall release the lien for the taxes on the business personal property that was the subject of the purchase transaction.
(3) Notwithstanding receipt of a compromise payment under this section, the total outstanding amount described in subsection (1)(a) of this section, without reduction for the amount of the compromise payment, remains as:
(a) A personal liability of the owner, or person in possession or control of the property, at the time the property was assessed, arising under ORS § 311.455.
(b) A lien on property, other than the property that was the subject of the purchase transaction, arising under ORS § 311.405 (3).
(4)(a) If the total outstanding amount described in subsection (1)(a) of this section is paid after receipt of a compromise payment, the amount of the compromise payment shall be refunded to the purchaser.
(b) Upon receipt of the total outstanding amount described in subsection (1)(a) of this section, the tax collector shall notify the governing body of the county that a refund is due under this subsection. The refund shall be made without interest in the manner provided in ORS § 311.806. [2015 c.444 § 7]
(Miscellaneous)