Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 311 - COLLECTION OF PROPERTY TAXES
Section 150-311-0680 - Senior Citizen's Deferred Tax Lien Estimate
Universal Citation: OR Admin Rules 150-311-0680
Current through Register Vol. 63, No. 9, September 1, 2024
(1) For all Senior Citizen Deferral accounts established under ORS 311.666 through 311.696, the department must record a lien estimate in the mortgage records of the appropriate county. The lien estimate is made from the following:
(a)
Future deferred taxes based on the taxpayer-applicant's life expectancy, as
determined by actuarial tables, with an inflation factor added for the tax
amount,
(b) Interest to be
charged, and
(c) Fees paid for
lien recording, release, or satisfaction.
(2) The amount owing on an account, at any one time, equals the actual deferred tax, interest on the account, and any lien recording, release or satisfaction fees.
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 311.679
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