Or. Admin. R. 150-311-0550

Current through Register Vol. 63, No. 6, June 1, 2024

Section 150-311-0550 - Interest on State of Oregon Foreclosed Property

(1) When the State of Oregon sells real property for which there are unpaid principal amounts of taxes owing under ORS 311.525, interest begins to accrue on the principal amount beginning on the 16th of the month following the sale. For example:

(a) The State of Oregon sells property with 1990 taxes owing on the property on July 1, 1993. Interest would begin on those taxes on July 16, 1993.

(b) The State of Oregon sells property with 1990 taxes owing on the property on July 17, 1993. Interest would begin on those taxes on August 16, 1993.

(2) When the State of Oregon sells real property for which there are unpaid principal amounts of taxes owing under ORS 311.525, the property may be included in the first foreclosure list prepared after the transfer of the property to the taxable owner if three or more years have elapsed from the original date of delinquency of the taxes.

Or. Admin. R. 150-311-0550

Renumbered from 150-311.525-(A), REV 27-2016, f. 8-12-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 311.525