Bill Text: OR SB447 | 2013 | Regular Session | Introduced


Bill Title: Relating to property taxation; prescribing an effective date.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [SB447 Detail]

Download: Oregon-2013-SB447-Introduced.html


     77th OREGON LEGISLATIVE ASSEMBLY--2013 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 1121

                         Senate Bill 447

Sponsored by Senator GEORGE (Presession filed.)

                             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.

  Reduces monthly interest on delinquent property tax payments to
lesser of prime rate plus one percent, multiplied by one-twelfth,
or two-thirds of one percent.
  Takes effect on 91st day following adjournment sine die.

                        A BILL FOR AN ACT
Relating to property taxation; amending ORS 311.505; and
  prescribing an effective date.
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) { + (a) + } 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 - }
 { + payable + } per month  { - , - }  or fraction of a month
until paid  { - . - }  { + , at a rate equal to the lesser of:
  (A) The prime rate on the date the amounts owing become
delinquent plus one percent, multiplied by one-twelfth; or
  (B) Two-thirds of one percent.
  (b) As used in this subsection, 'prime rate' means the primary
credit rate of the discount window program of the United States
Federal Reserve System. + }
  (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.  { + This 2013 Act takes effect on the 91st day
after the date on which the 2013 regular session of the
Seventy-seventh Legislative Assembly adjourns sine die. + }
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