74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 673
 
                         House Bill 2319
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of House Interim Committee on
  Judiciary for Judicial Department)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Transfers duty to notify county treasurer of large property tax
appeals from Oregon Tax Court to Department of Revenue.
 
                        A BILL FOR AN ACT
Relating to property tax appeals; amending ORS 311.814.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 311.814 is amended to read:
  311.814. (1) Whenever any property value or claim for exemption
or cancellation of a property tax assessment is appealed to the
 { + Oregon + } Tax Court after taxes on the property have been
imposed, the   { - tax court - }   { + Department of Revenue + }
shall notify the county treasurer of the appeal not later than
the following October 15, if the appeal is not finally resolved
before the end of the tax year to which the appeal relates and
the dollar difference between the total value asserted by the
taxpayer and the total value asserted by the opposing party
exceeds one-fourth of one percent (0.0025) of the total assessed
value in the county, or if the appeal relates to property
assessed under ORS 308.505 to 308.665, and the value of such
property asserted by the opposing party and attributable to the
county exceeds one-fourth of one percent (0.0025) of the total
assessed value in the county. After notification, the county
treasurer shall set aside, if so ordered by the county governing
body, from taxes collected in the current tax year, an interest
bearing reserve account as provided in this section.
  (2) The reserve shall consist of an amount representing that
portion of taxes paid by the petitioner attributable to the
amount of value in dispute for each tax year that the appeal
remains unresolved. Upon termination of the controversy, the
principal amount in the account necessary to pay any refund, and
any interest provided for under ORS 311.812, shall be paid to the
petitioner. Any excess remaining in the reserve after termination
of the controversy and payment of a refund, if any, shall be
deposited in the unsegregated tax collections account in full
satisfaction of the tax due on the property.
  (3) If the final resolution of the controversy results in
additional taxes due on the property, the amount in the reserve
account shall be deposited into the unsegregated tax collections
account and shall be distributed according to the distribution
percentage schedule for the current tax year prepared in
accordance with ORS 311.390. The additional taxes shall be
collected as provided in ORS 311.513.
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