75th OREGON LEGISLATIVE ASSEMBLY--2009 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 2473
A-Engrossed
Senate Bill 563
Ordered by the Senate May 27
Including Senate Amendments dated May 27
Sponsored by COMMITTEE ON FINANCE AND REVENUE
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.
{ - Redirects deposit of interest on late payment of property
taxes from County Assessment and Taxation Fund to County
Assessment Function Funding Assistance Account. - }
{ - Sunsets redirected deposits of interest for tax years
beginning on or after July 1, 2013. - }
{ + Requires all interest on late payment of property taxes
to be deposited in County Assessment and Taxation Fund.
Applies to tax years beginning on or after July 1, 2009. + }
A BILL FOR AN ACT
Relating to interest due on the late payment of property taxes;
creating new provisions; and amending ORS 311.385, 311.505 and
311.508.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 311.505 is amended to read:
311.505. (1) Except as provided in subsection (6) of this
section, the first one-third of all taxes and other charges due
from the taxpayer or property, levied or imposed and charged on
the latest tax roll, shall be paid on or before November 15, the
second one-third on or before February 15, and the remaining
one-third on or before May 15 next following.
(2) Interest shall be charged and collected on any taxes on
property, other charges, and on any additional taxes or penalty
imposed for disqualification of property for special assessment
or exemption, or installment thereof not paid when due, at the
rate of one and one-third percent per month, or fraction of a
month until paid.
(3) Discounts shall be allowed on partial or full payments of
such taxes, made on or before November 15 as follows:
(a) Two percent on two-thirds of such taxes so paid.
(b) Three percent where all of such taxes are so paid.
(4) For purposes of this section, 'taxes' includes all taxes on
property as defined in ORS 310.140 and certified to the assessor
under ORS 310.060 except taxes assessed on any other property
which have by any means become a lien against the property for
which the payment was made.
(5) { - All interest collected and - } All discounts allowed
shall be prorated to the several municipal corporations, taxing
districts and governmental agencies sharing in the taxes or
assessments.
(6) If the total property tax is less than $40, no installment
payment of taxes shall be allowed.
SECTION 2. ORS 311.508 is amended to read:
311.508. { - (1) Except as provided under subsection (2) of
this section and notwithstanding ORS 311.505 (5): - }
{ - (a) - } { + (1) + } { - Twenty-five percent of - }
The interest charged and collected under ORS 311.505 shall be
deposited and credited to the County Assessment and Taxation Fund
created under ORS 294.187 { - ; and - } { + . + }
{ - (b) An additional 25 percent of the interest charged and
collected under ORS 311.505 shall be deposited and credited to
the County Assessment and Taxation Fund created under ORS 294.187
to the extent the interest would otherwise be distributed to
cities or other taxing districts that are not counties or
districts within the public school system. - }
{ - (2) On or before June 15 of each year, the Department of
Revenue shall estimate the amount of interest that will be
deposited and credited to the County Assessment Function Funding
Assistance Account created under ORS 294.184 for the ensuing
fiscal year. If the estimate is less than $13 million, the
department shall certify to each county treasurer an increase in
the percentage specified under subsection (1)(a) of this section
to the end that the estimate reaches $13 million. However, no
increase in percentage shall be certified that will raise and
make available for deposit and credit to the County Assessment
Function Funding Assistance Account for the ensuing fiscal year
an amount that is in excess of $3 million over the amount
estimated under this subsection to be received under subsection
(1)(a) of this section for the ensuing fiscal year. - }
{ - (3) Upon receipt of certification from the department
under subsection (2) of this section, the county treasurer shall
deposit and credit to the County Assessment and Taxation Fund for
the fiscal year to which the certification applies the percentage
of the interest charged and collected under ORS 311.505 so
certified. - }
{ - (4) The percentage of the interest on unpaid taxes and
penalties required to be deposited and credited to the County
Assessment and Taxation Fund under this section shall be
deposited and credited in the same manner that the remaining
interest is deposited and credited under ORS 311.385. - }
{ + (2) The interest on unpaid taxes and penalties required
to be deposited and credited to the County Assessment and
Taxation Fund under this section shall be deposited and credited
in the same manner as property tax moneys are deposited and
credited under ORS 311.385. + }
SECTION 3. ORS 311.385 is amended to read:
311.385. (1) The tax collector shall deposit all property tax
moneys with the county treasurer no later than:
(a) One business day after:
(A) Payment of the moneys is made in person at the office of
the tax collector; or
(B) The tax collector receives moneys collected by a financial
institution or other collection agency; or
(b) Thirty calendar days after the payment arrives by mail in
the county mail receptacle.
(2) The tax collector shall take a receipt for all moneys
deposited with the county treasurer.
(3) Property tax moneys shall not be deposited in any account
other than the unsegregated tax collections account, except as
provided in ORS 311.370, 311.484 and 311.508.
(4) No later than one business day after receiving notice of
collection of tax moneys by a financial institution or other
collection agency, the tax collector shall notify the county
treasurer of the collection of those tax moneys.
(5) Except as provided in ORS 311.370, 311.484 and 311.508, the
county treasurer shall deposit all property tax moneys to an
account in the records of the county treasurer designated as the
unsegregated tax collections account. Only those moneys that will
be distributed under ORS 311.390 and interest earned from the
investment of those moneys shall be deposited to the unsegregated
tax collections account.
(6) As used in this section, 'property tax moneys' includes all
ad valorem taxes and all taxes on property, as defined in ORS
310.140, and all other amounts specifically authorized by law to
be included on the assessment and tax roll, that are certified
for collection under ORS 310.060 or other law { - and any
interest on those taxes - } .
SECTION 4. { + The amendments to ORS 311.385, 311.505 and
311.508 by sections 1 to 3 of this 2009 Act apply to tax years
beginning on or after July 1, 2009. + }
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