(1)(a) A claim to defer the property taxes on a homestead that is eligible for deferral under ORS § 311.670 may be filed with the county assessor in the manner prescribed under ORS § 311.672 by:

Terms Used In Oregon Statutes 311.668

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • City: includes any incorporated village or town. See Oregon Statutes 174.100
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
  • Trustee: A person or institution holding and administering property in trust.
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.

(A) An individual who is, or two or more individuals filing a claim jointly each of whom is, 62 years of age or older on or before April 15 of the calendar year in which the claim is filed; or

(B) An individual who is a person with a disability as of April 15 of the calendar year in which the claim is filed, regardless of the age of the individual or the age or disability of other individuals occupying the homestead.

(b) If a guardian or conservator has been appointed for an individual otherwise eligible to claim deferral of taxes under this section, the guardian or conservator may act for the individual in complying with the provisions of ORS § 311.666 to 311.701.

(c) If a trustee of an inter vivos trust that was created by and is revocable by an individual, who is both the trustor and a beneficiary of the trust and who is otherwise eligible to claim deferral of taxes under this section, owns the fee simple estate under a recorded instrument of sale, the trustee may act for the individual in complying with the provisions of ORS § 311.666 to 311.701.

(d) This section may not be construed to require the spouse of an individual to file a claim jointly with the individual even though the spouse may be eligible to claim the deferral jointly with the individual.

(2)(a) Notwithstanding subsection (1) of this section, deferral may not be granted under ORS § 311.666 to 311.701 with respect to a claim filed by individuals who together have, for the calendar year immediately preceding the calendar year in which the claim for deferral is filed:

(A) Household income of $32,000 or more; or

(B) Net worth of $500,000 or more.

(b) For each tax year beginning on or after July 1, 2002, the Department of Revenue shall recompute the maximum household income under this subsection as follows:

(A) Divide the average Consumer Price Index for All Urban Consumers, West Region, for the first six months of the calendar year immediately preceding the calendar year in which the tax year begins by the average U.S. City Average Consumer Price Index for the first six months of 2001.

(B) Recompute the maximum household income by multiplying $32,000 by the appropriate indexing factor determined under subparagraph (A) of this paragraph.

(c) Any change in the maximum household income determined under paragraph (b) of this subsection shall be rounded to the nearest multiple of $500.

(3)(a) Notwithstanding subsection (1) of this section, deferral may not be granted under ORS § 311.666 to 311.701 with respect to a claim if, at the time the claim is filed, property taxes imposed on the homestead of any individual filing the claim have been deferred and are delinquent or have been canceled.

(b) This subsection does not apply to the claim by a surviving spouse or disabled heir to continue deferral under ORS § 311.688. [1963 c.569 8,22; 1975 c.372 § 1; 1977 c.160 § 2; 1981 c.853 § 1; 1983 c.550 § 2; 1987 c.512 § 5; 1989 c.948 § 14; 1995 c.79 § 149; 1995 c.650 § 78; 1995 c.803 § 1; 1999 c.1097 § 2; 2001 c.753 § 25; 2007 c.70 § 78; 2011 c.723 § 2; 2013 c.31 § 2; 2021 c.535 § 2]

 

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