(a) Filing a written notice of intent to continue deferral with the Department of Revenue on or before 30 days after the date the Department of Transportation has acquired title to the condemned homestead; and
(b) Filing a claim for deferral with respect to a new homestead within one year after the Department of Transportation has acquired title to the condemned homestead.
(2) Upon receipt of a notice of intent to continue deferral of taxes attributable to a condemned homestead under subsection (1) of this section, the Department of Revenue shall prepare an estimate of the amount of taxes and interest, the cost of insurance purchased pursuant to ORS 311.670 (4)(b) and fees that have been and, if approved under subsections (3) and (5) of this section, will continue to be deferred upon the release and satisfaction of the lien on the condemned homestead and the recordation of the lien on the new homestead.
(3) After preparing the estimate described in subsection (2) of this section, the Department of Revenue shall grant a temporary deferral of taxes with respect to the condemned homestead not to exceed the length of time described in subsection (1)(b) of this section if:
(a) The Department of Transportation has acquired title to the condemned homestead; and
(b) The taxpayer has a legally enforceable escrow agreement with a title company that:
(A) Provides for an interest-bearing escrow account in which moneys are deposited that are sufficient to pay in full the amount of deferred taxes and interest, the cost of insurance purchased pursuant to ORS 311.670 (4)(b) and fees on the condemned homestead property as estimated under subsection (2) of this section;
(B) Establishes the Department of Revenue as the beneficiary of the escrow agreement;
(C) Provides that the moneys of the escrow account are to be released to the taxpayer upon the Department of Revenue’s approval of continued deferral under subsection (5) of this section and the recordation of the lien described in subsection (6) of this section with the county clerk; and
(D) Provides that the full amount of the estimated deferred taxes and interest, the cost of insurance purchased pursuant to ORS 311.670 (4)(b) and fees related to the condemned homestead are to be released to the Department of Revenue if the continued deferral described in subsection (5) of this section is not granted by the Department of Revenue.
(4) The Department of Revenue shall provide a release or satisfaction of the lien on the condemned homestead when an escrow account has been established as provided under subsection (3) of this section.
(5) Upon receipt of a claim for the deferral of taxes for a new homestead that also seeks to continue the deferral of taxes attributable to a condemned homestead for which a temporary deferral has been granted under subsection (3) of this section, the Department of Revenue shall approve the continued deferral of the taxes temporarily deferred under subsection (3) of this section if:
(a) The taxpayer’s equity interest in the new homestead equals or exceeds in value the total of the amount of deferred taxes and interest, the cost of insurance purchased pursuant to ORS 311.670 (4)(b) and fees on the condemned homestead as estimated under subsection (2) of this section, plus $10,000;
(b) The taxpayer is entitled to tax deferral under ORS 311.666 to 311.701 with respect to the new homestead; and
(c) The taxpayer consents to the continued deferral of taxes and to the lien on the new homestead property as provided in subsection (6) of this section.
(6) Upon granting the continued deferral under subsection (5) of this section, the Department of Revenue shall have a lien on the new homestead in the amount of the estimate prepared under subsection (2) of this section plus interest and any fees incurred in connection with the recording of the lien. The lien described in this subsection shall be in addition to any other lien under ORS 311.673 that the Department of Revenue shall have with respect to the new homestead. The provisions of ORS 311.679 relating to liens shall apply to the lien described in this subsection. At the time the lien described in this subsection is recorded, the escrow account described in subsection (3) of this section shall be closed and the moneys in the account released to the taxpayer.
(7) The Department of Revenue may prescribe such rules as are needed to implement the provisions of this section. [1997 c.169 §4; 1999 c.21 §31; 2015 c.309 §7]
Structure 2021 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 311 - Collection of Property Taxes
Section 311.010 - "County court" defined.
Section 311.020 - Collection procedure when offices of assessor and tax collector combined.
Section 311.105 - Certificate of taxes levied or imposed; preparation; contents; delivery.
Section 311.125 - Entering delinquent taxes on tax roll.
Section 311.135 - Restoration of current assessment roll after destruction or damage.
Section 311.150 - Adding to, changing or correcting rolls by vouchers; preservation of vouchers.
Section 311.165 - Collection of taxes upon severance and removal of improvements from the land.
Section 311.175 - Loss of revenue by school taxing districts; report; calculation.
Section 311.205 - Correcting errors or omissions in rolls.
Section 311.250 - Tax statements; rules.
Section 311.265 - Payment of taxes with warrants.
Section 311.375 - Forwarding state taxes by county treasurers.
Section 311.388 - Additional taxes or penalties; deposit; distribution.
Section 311.392 - County’s option to advance to municipalities taxes levied prior to collection.
Section 311.405 - Tax as lien; priority; effect of removal, sale or transfer of personal property.
Section 311.415 - Payment of taxes before entry of judgment or order in certain causes.
Section 311.467 - Review of assessor’s action under expedited collection provisions.
Section 311.484 - Property tax bankruptcy account.
Section 311.489 - Bankruptcy collections efforts report.
Section 311.505 - Due dates; interest on late payments; discounts on early payments.
Section 311.507 - Discount allowed for certain late payments.
Section 311.508 - Disposition of interest on late payments; certification of estimated interest.
Section 311.512 - Collection of taxes on manufactured structures.
Section 311.513 - Collection of additional taxes due upon resolution of appeal.
Section 311.520 - When cities exempt from penalty and interest.
Section 311.531 - Tax collector to file annual statement compiled from tax rolls.
Section 311.545 - Notice of delinquent taxes on real property.
Section 311.547 - Notice of delinquent taxes on personal property.
Section 311.610 - Warrants to enforce payments of taxes on personal property.
Section 311.615 - Notice of warrants.
Section 311.625 - Recordation of warrant in lien record; lien on real and personal property.
Section 311.635 - Execution; release of lien.
Section 311.637 - Expiration and extension of electronic notice of warrant.
Section 311.641 - Bona fide purchaser of business personal property; release of lien.
Section 311.645 - Charging personal property taxes against real property.
Section 311.666 - Definitions for ORS 311.666 to 311.701.
Section 311.667 - Sunset of homestead deferral program.
Section 311.670 - Eligibility of property.
Section 311.673 - State liens against tax-deferred property.
Section 311.674 - Listing of tax-deferred property; interest accrual.
Section 311.675 - Recording liens; recording constitutes notice of state lien.
Section 311.676 - State to pay counties amount equivalent to deferred taxes.
Section 311.678 - Annual notice to taxpayer claiming deferral in current tax year.
Section 311.679 - Estimate of deferred taxes; lien; foreclosure; voluntary payment.
Section 311.681 - Request for retroactive deferral.
Section 311.684 - Events requiring payment of deferred tax and interest.
Section 311.686 - Time for payments; delinquency; foreclosure.
Section 311.688 - Claim by surviving spouse or disabled heir to continue tax deferral.
Section 311.689 - Certification of continuing eligibility.
Section 311.690 - Voluntary payment of deferred tax and interest.
Section 311.691 - Taxes unpaid before deferral as lien; effect on foreclosure; exceptions.
Section 311.693 - Application to delay foreclosure; appeals.
Section 311.694 - Reimbursement of state for taxes uncollected after foreclosure.
Section 311.695 - Joint and several liability of transferees for deferral amounts.
Section 311.696 - Limitations on effect of ORS 311.666 to 311.701.
Section 311.701 - Senior Property Tax Deferral Revolving Account; sources; uses.
Section 311.702 - Definitions for ORS 311.702 to 311.735.
Section 311.704 - Claim to defer special assessment for local improvement.
Section 311.706 - Requirements for deferral.
Section 311.708 - Claim form; filing date.
Section 311.718 - Time for payments; delinquency.
Section 311.721 - Election by spouse to continue deferral.
Section 311.723 - Voluntary payment of deferred special assessment.
Section 311.725 - Disposition of collected special assessments; reimbursement of state.
Section 311.729 - Limitations on effect of ORS 311.702 to 311.735.
Section 311.731 - Remittance to state of prepaid amounts when deferral ends.
Section 311.740 - Definitions for ORS 311.740 to 311.780.
Section 311.745 - Election to defer taxes in disaster area; eligibility.
Section 311.750 - Qualifications.
Section 311.755 - Time for payment; interest on deferred taxes; delinquency.
Section 311.759 - Voluntary payment; satisfaction of deferred property tax lien.
Section 311.761 - Recordation of tax deferred properties; recording constitutes notice of lien.
Section 311.771 - Liens; priority; foreclosure proceeding.
Section 311.775 - Notice of deferral to assessor by department; rate of interest on deferred taxes.
Section 311.780 - Payment of tax deferred amounts to county by state; availability of moneys.
Section 311.790 - Cancellation of uncollectible property tax.
Section 311.807 - Refund reserve account; deposits; payment of refunds; rules.
Section 311.808 - When refund on real property, manufactured structure or floating home prohibited.
Section 311.812 - No interest on refunds under ORS 311.806; exceptions; rate.
Section 311.814 - Appeal of large amounts of value; reserve account for refunds.
Section 311.855 - Definitions for ORS 311.850 to 311.870.
Section 311.860 - Agreement for prepayment; contents; filing; certificate of payment.