Oregon Statutes - Chapter 311 - Collection of Property Taxes - Section 311.780 - Payment of tax deferred amounts to county by state.

(1) Upon receipt of the notification from the Department of Revenue of the amount deferred on tax deferred property under ORS 311.740 to 311.780, the State Treasurer shall pay to the respective county tax collectors an amount equivalent to the full amount of tax listed by the department less three percent thereof.

(2) The department shall maintain accounts for each deferred property and shall accrue interest on the gross amount of taxes advanced.

(3) The funds provided for the payment made pursuant to subsection (1) of this section shall be made as investments from the excess funds mentioned in ORS 293.701 (2)(o). [1977 c.695 §9; 1980 c.19 §10; 1993 c.18 §75]

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Last modified: August 7, 2008