Oregon Statutes - Chapter 307 - Property Subject to Taxation; Exemptions - Section 307.530 - Termination if property held for future development or other purpose.

An exemption granted under ORS 307.515 to 307.523 shall be immediately terminated and additional taxes imposed as provided in ORS 307.531 if the exempt property:

(1) Is being held for future development of low income rental housing; and

(2) Is used for any purpose other than the provision of low income rental housing. [1997 c.752 §10]

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Last modified: August 7, 2008