(1) A county may establish a property tax bankruptcy account. The account shall consist of interest earned on the account and moneys deposited into the account by the tax collector from taxes and any related penalties, but excluding interest, that are:
(a) Due under ORS 311.405 (2) and (3)(a) and (b) or 311.480; and
(b) Collected pursuant to an order of a bankruptcy court.
(2) If a county establishes a property tax bankruptcy account under this section, the county treasurer shall deduct from the account and deposit with the county an amount that is sufficient to reimburse the county for costs incurred by the tax collector to pursue collection of taxes and penalties described in subsection (1) of this section. Costs allowed under this subsection include:
(a) Attorney fees, which may include the amount billed by retained counsel, the documented hourly cost of county counsel services and reasonable county counsel overhead; and
(b) Expenditures and disbursements, which may include filing fees, copying charges, travel expenses and other expenditures directly related to the bankruptcy proceeding.
(3) After estimating the amount necessary for reimbursements under subsection (2) of this section, the county treasurer may periodically deposit into the unsegregated tax collections account described in ORS 311.385 the portion of the property tax bankruptcy account that the treasurer deems reasonable and prudent.
(4) Not later than June 30 of each year, the county treasurer shall deposit the balance of the property tax bankruptcy account, including interest and excluding an amount that is reasonably necessary for reimbursements under subsection (2) of this section, in the unsegregated tax collections account described in ORS 311.385 for distribution in accordance with ORS 311.390. [2003 c.190 §2]
Note: 311.484 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 311 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Section: Previous 311.460 311.465 311.467 311.470 311.473 311.475 311.480 311.484 311.485 311.489 311.500 311.505 311.506 311.507 311.508 NextLast modified: August 7, 2008