(b) Notwithstanding paragraph (a) of this subsection, a nonprofit corporation may not claim an exemption for land under this section unless, within the 10 years immediately preceding the filing of a claim pursuant to this section, the nonprofit corporation has sold at least one residence to individuals described in paragraph (a) of this subsection.
(2)(a) The exemption shall be granted to land beginning with the first property tax year for which the nonprofit corporation files a claim for the land under ORS 307.162 and ending on or at the earlier of:
(A) The date on which the nonprofit corporation has transferred title to the residences on the land; or
(B) The end of the seventh consecutive property tax year for which the land is granted an exemption under this section or, if the nonprofit corporation has claimed an extension under paragraph (b) of this subsection, the end of the 10th consecutive property tax year for which the land is granted an exemption under this section.
(b)(A) If, before the end of the sixth consecutive property tax year for which the land is granted an exemption, the nonprofit corporation believes that title to the residences on the land will not be transferred by the end of the next following property tax year, the nonprofit corporation may claim a three-year extension of the exemption period by filing a notice of extension with the county assessor.
(B) The extension becomes effective if the notice of extension is filed on or before April 1 preceding the first property tax year for which the extension is claimed and is accompanied by a filing fee equal to the greater of $200 or one-tenth of one percent of the real market value of the land as of the most recent assessment date.
(3)(a) For each property tax year that land is exempt under this section, the county assessor shall indicate on the assessment and tax roll that the land is exempt from property taxation under this section and is subject to potential additional taxes.
(b) If the nonprofit corporation has not transferred title to the residences on the land by the end of the seventh consecutive property tax year for which the land is granted an exemption under this section, or, if the nonprofit corporation has claimed an extension under subsection (2)(b) of this section, by the end of the 10th consecutive property tax year, the land shall be disqualified for the exemption. Additional taxes shall be imposed on the land on the next assessment and tax roll following the disqualification and shall be collected and distributed in the same manner as other ad valorem property taxes.
(c) The additional taxes shall be imposed in an amount equal to the property taxes that were not imposed on the land because of the exemption, plus interest computed at the rate provided under ORS 311.505 (2).
(d) The additional taxes described in this subsection shall be deemed assessed and imposed in the year to which the additional taxes relate.
(e) The amount determined to be due under this subsection may be paid to the tax collector prior to the time of the next general property tax roll, pursuant to the provisions of ORS 311.370.
(4) An exemption for land under this section does not preempt a county from granting other tax benefits to the land or the nonprofit corporation for any year. [2015 c.520 §1]
Note: Section 2, chapter 578, Oregon Laws 2019, provides:
Sec. 2. (1) Land may not be granted an initial year of exemption under ORS 307.513 for any property tax year beginning on or after July 1, 2029.
(2) Notwithstanding subsection (1) of this section, land that is granted an initial year of exemption under ORS 307.513 for a property tax year beginning before July 1, 2029, may continue to receive the exemption for the number of consecutive property tax years for which the land is eligible for the exemption under ORS 307.513. [2019 c.578 §2]
Note: 307.513 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 307 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Structure 2021 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 307 - Property Subject to Taxation; Exemptions
Section 307.022 - Qualification for exemption of property of certain limited liability companies.
Section 307.030 - Property subject to assessment generally.
Section 307.092 - Property of housing authority; exception.
Section 307.095 - State property rented for parking subject to ad valorem taxation; computation.
Section 307.107 - Property used for natural gas pipeline extension project.
Section 307.110 - Public property leased or rented by taxable owner; exceptions.
Section 307.115 - Property of nonprofit corporations held for public parks or recreation purposes.
Section 307.118 - Wastewater and sewage treatment facilities.
Section 307.123 - Property of strategic investment program eligible projects; rules.
Section 307.134 - Definition of fraternal organization.
Section 307.136 - Property of fraternal organizations.
Section 307.140 - Property of religious organizations; affordable housing.
Section 307.145 - Certain child care facilities, schools and student housing.
Section 307.147 - Senior services centers.
Section 307.150 - Property used for burial, cremation or alternative disposition.
Section 307.155 - When land exempt under ORS 97.660, 307.140 or 307.150 taxable; lien.
Section 307.162 - Claiming exemption; late claims; notification of change to nonexempt use.
Section 307.168 - State land under lease.
Section 307.175 - Alternative energy systems.
Section 307.181 - Land acquired or owned by Indian tribe.
Section 307.182 - Federal land used by recreation facility operators under permit.
Section 307.183 - Summer homes on federal land occupied under permit.
Section 307.184 - Summer homes on federal land occupied under lease.
Section 307.197 - Equipment used for certain emergencies in navigable waters.
Section 307.243 - Property to which exemption applies.
Section 307.248 - Suspense account; fiscal year allocation; proration of payments.
Section 307.250 - Property of veterans or surviving spouses.
Section 307.260 - Claiming exemption; alternative procedure for surviving spouse.
Section 307.270 - Property to which exemption of ORS 307.250 applies.
Section 307.286 - Homestead exemption.
Section 307.325 - Agricultural products in possession of farmer.
Section 307.330 - Commercial facilities under construction.
Section 307.340 - Filing proof for cancellation of assessment; abatement.
Section 307.370 - Property of nonprofit homes for elderly persons; limitation on lessee.
Section 307.375 - Type of corporation to which exemption under ORS 307.370 applicable.
Section 307.380 - Claiming exemption under ORS 307.370.
Section 307.398 - Irrigation equipment.
Section 307.405 - Pollution control facilities; qualifications; expiration; revocation; limitations.
Section 307.430 - Correction of assessment and tax rolls; termination of exemption.
Section 307.455 - Definitions for ORS 307.453 to 307.459; application; exemption; limitations.
Section 307.457 - Certification of eligibility of machinery and equipment; fees.
Section 307.480 - Definitions for ORS 307.480 to 307.510.
Section 307.490 - Payments in lieu of taxes; disposition of moneys received.
Section 307.495 - Claiming exemption; verification of compliance with regulatory laws.
Section 307.515 - Definitions for ORS 307.515 to 307.523.
Section 307.517 - Criteria for exemption.
Section 307.518 - Alternative criteria for exemption.
Section 307.521 - Application for exemption; policies for considering applications.
Section 307.523 - Time for filing application; certification of exemption.
Section 307.527 - Ordinance or resolution approving or disapproving application; application fee.
Section 307.529 - Notice of proposed termination of exemption; grounds; terminating exemption.
Section 307.531 - Termination of exemption without notice; grounds; additional taxes.
Section 307.533 - Review; correction of tax rolls; payment of tax after exemption terminates.
Section 307.535 - Extension of deadline for completion; exception to imposition of additional taxes.
Section 307.540 - Definitions for ORS 307.540 to 307.548.
Section 307.541 - Nonprofit corporation low income housing; criteria for exemption.
Section 307.545 - Application for exemption.
Section 307.547 - Determination of eligibility; notice to county assessor.
Section 307.548 - Termination of exemption; additional taxes.
Section 307.555 - Property burdened by affordable housing covenant used for owner-occupied housing.
Section 307.558 - Termination of exemption for noncompliance; additional taxes.
Section 307.580 - Property of industry apprenticeship or training trust.
Section 307.600 - Legislative findings.
Section 307.603 - Definitions for ORS 307.600 to 307.637.
Section 307.612 - Duration of exemption; exclusions.
Section 307.618 - City or county findings required for approval.
Section 307.627 - Termination of exemption; additional taxes.
Section 307.637 - Deadlines for actions required for exemption.
Section 307.651 - Definitions for ORS 307.651 to 307.687.
Section 307.654 - Legislative findings.
Section 307.657 - Local government action to provide exemption.
Section 307.667 - Application for exemption.
Section 307.671 - Approval criteria.
Section 307.674 - Application, approval and denial procedures; filing with assessor; fee.
Section 307.677 - Extension of construction period; effect of destruction of property.
Section 307.681 - Termination of exemption for failure to meet requirements; procedures.
Section 307.684 - Immediate termination of exemption; additional taxes.
Section 307.804 - Rural health care facilities; claim procedures; duration of exemption.
Section 307.806 - Exemption limited to taxes of district adopting ORS 307.804; procedures.
Section 307.811 - Essential community provider long term care facilities.
Section 307.818 - Beach access sites; claim procedures.
Section 307.821 - Disqualification; additional taxes.
Section 307.824 - Findings and declarations.
Section 307.827 - Environmentally sensitive logging equipment.
Section 307.835 - Cargo containers.
Section 307.841 - Definitions for ORS 307.841 to 307.867.
Section 307.854 - Acquisition, disposition and development of real property within zone.
Section 307.858 - Project certification requirements.
Section 307.861 - Monitoring of certified projects; decertification.
Section 307.864 - Partial property tax exemption.
Section 307.866 - Decertification of project; disqualification from exemption; additional taxes.
Section 307.867 - Termination of zone; effect of termination.
Section 307.870 - Definitions for ORS 307.870 to 307.890.
Section 307.875 - Heavy equipment provider registration; records and statements; rules.
Section 307.878 - Collection of tax; quarterly returns; remittance of tax.
Section 307.883 - Taxes held in trust; warrant for delinquent taxes; enforcement procedures.
Section 307.885 - Applicability of other provisions of tax law.
Section 307.888 - Distribution of moneys received; certain information not confidential.
Section 307.890 - Exemption from disclosure; statutory conflict resolution.