Oregon Statutes 307.490 – Payments in lieu of taxes; allocation of moneys received
(1) In lieu of real and personal property taxes, each nonprofit corporation granted tax exemption under ORS § 307.485 shall:
Terms Used In Oregon Statutes 307.490
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Personal property: All property that is not real property.
(a) Pay to the treasurer of the county on or before November 15 an amount equal to 10 percent of the rentals for the period ending the preceding October 15; and
(b) Submit with the remittance a form supplied by the Department of Revenue that states the rental income and:
(A) If for agricultural workforce housing, certifies compliance with all applicable local, state and federal building codes; or
(B) If for a child care facility or farm labor camp that is offered in connection with recruitment or employment of agricultural workers, certifies compliance with the requirements of the State Fire Marshal, the local health officer or the Department of Early Learning and Care, as applicable.
(2) The treasurer shall, with the assistance of the assessor, allocate the money received by the treasurer under subsection (1) of this section, to the districts in which the exempt property is located in the same proportion that the tax rate for the current tax year for each district bears to the total tax rate for all districts.
(3) The moneys received by the district shall be considered as a budget resource for the next ensuing fiscal year. [1973 c.382 § 3; 1997 c.325 § 26; 2013 c.624 § 75; 2015 c.34 § 3; 2023 c.554 § 45]