Chapter 184 Oregon Laws 2001

AN ACT

HB 2347

Relating to homestead deferral of taxes; creating new provisions; and amending ORS 311.666 and 311.676.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 311.666, as amended by section 1, chapter 1097, Oregon Laws 1999, is amended to read:

311.666. As used in ORS 311.666 to 311.701:

(1) “Department” means the Department of Revenue.

(2) “Disabled person” means a person who has been determined to be eligible to receive or who is receiving federal Social Security [disability benefits] benefits due to disability or blindness, including a person who is receiving Social Security survivor benefits in lieu of Social Security benefits due to disability or blindness.

(3) “Homestead” means the owner occupied principal dwelling, either real or personal property, owned by the taxpayer and the tax lot upon which it is located. If the homestead is located in a multiunit building, the homestead is the portion of the building actually used as the principal dwelling and its percentage of the value of the common elements and of the value of the tax lot upon which it is built. The percentage is the value of the unit consisting of the homestead compared to the total value of the building exclusive of the common elements, if any.

(4) “Taxpayer” means an individual who has filed a claim for deferral under ORS 311.668 or individuals who have jointly filed a claim for deferral under ORS 311.668.

(5) “Tax-deferred property” means the property upon which taxes are deferred under ORS 311.666 to 311.701.

(6) “Taxes” or “property taxes” means ad valorem taxes, assessments, fees and charges entered on the assessment and tax roll.

SECTION 2. ORS 311.676, as amended by section 4, chapter 1097, Oregon Laws 1999, is amended to read:

311.676. (1) Upon determining the amount of deferred taxes on tax-deferred property for the tax year, the Department of Revenue shall pay to the respective county tax collectors an amount equivalent to the deferred taxes less three percent thereof. Payment shall be made from the revolving account established under ORS 311.701.

(2) The department shall maintain accounts for each deferred property and shall accrue interest only on the actual amount of taxes advanced to the county.

(3)(a) If only a portion of taxes are deferred under ORS 311.689, the department shall pay the portion that is eligible for deferral to the tax collector and shall provide a separate notice to the county assessor stating the amount of property taxes that the department is paying.

(b) The notice stating the amount of property taxes paid by the department and any other county records indicating those amounts are not subject to the prohibitions against disclosure set forth in ORS 314.835.

SECTION 3. The amendments to ORS 311.666 and 311.676 by sections 1 and 2 of this 2001 Act apply only to the deferral of property taxes in tax years beginning on or after July 1, 2001.

Approved by the Governor May 24, 2001

Filed in the office of Secretary of State May 24, 2001

Effective date January 1, 2002

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