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The Oregon Administrative Rules contain OARs filed through October 15, 2014
 
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DEPARTMENT OF REVENUE

 

DIVISION 312

FORECLOSURE OF PROPERTY TAX LIENS

 

150-312.030(1)(d)

Interest Calculated to the Date of Publication

The foreclosure publication amount includes all interest accrued as of the date of publication. According to ORS 311.505(2), interest is charged and collected at a specific rate per month, or fraction of a month, until paid. This applies to all years shown in the publication.

Example: [Example not included. See ED. NOTE.]

The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)). Newspaper publication schedules may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes.

[ED. NOTE: The examples referenced in this rule are not printed in the OAR Compilation. Copies are available from the agency.]

Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 312.030
Hist.: RD 11-1990, f. 12-20-90, cert. ef. 12-31-90

 

150-312.030(2)

Monthly Interest Calculated on All Years in the Foreclosure Process Until Judgment is Taken

Interest is calculated on all years in the foreclosure process, from the date of publication to the date the judgment and decree is granted, using the rate and process outlined in ORS 311.505(2) and Oregon Laws 1989, Chapter 796, Sections 10 and 22. Interest is charged and collected on the tax at a rate of one and one-third percent (1 1/3%) per month or fraction of a month until paid.

To determine the amount of the additional interest to be included in the judgment and decree where the publication is late and/or judgment is granted late, the following chart provides examples of publication dates and the corresponding interest dates. [Chart not included. See ED. NOTE.]

The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)) with judgment and decree granted 30 days thereafter. Newspaper publication schedules may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes.

[ED. NOTE: The examples referenced in this rule are not printed in the OAR Compilation. Copies are available from the agency.]

Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 312.030
Hist.: RD 11-1990, f. 12-20-90, cert. ef. 12-31-90

150-312.040(1)(b)

Mailing of Notice of Foreclosure Proceeding

Counties have the option to send the first-class mail notice prior to sending the certified mail notice, providing both notices are sent by August 15, or the date of application of judgment and decree, whichever is later.

Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 312.040
Hist.: RD 9-1989, f. 12-18-89, cert. ef. 12-31-89; REV 6-2003, f. & cert. ef. 12-31-03

150-312.110

Five Percent Foreclosure Penalty

The 5 percent penalty is charged at the time the foreclosure list is submitted to the designated newspaper for publication. The penalty is not included in the published foreclosure list.

The 5 percent penalty is computed on the total tax and interest owed. Add the tax and interest for each year shown on the foreclosure list, plus any additional interest that may have accrued since the publication, and multiply that total by 5 percent (.05) to determine the penalty amount.

Once judgment and decree is granted, the penalty becomes a fixed amount calculated by multiplying the total amount shown in the judgment and decree by 5 percent (.05).

Example 1: [Examples not included. See ED. NOTE.]

Example 2: [Examples not included. See ED. NOTE.]

The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)). Publication requirements may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes.

[ED. NOTE: The examples referenced in this rule are not printed in the OAR Compilation. Copies are available from the agency.]

Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 312.110
Hist.: RD 11-1990, f. 12-20-90, cert. ef. 12-31-90

The official copy of an Oregon Administrative Rule is contained in the Administrative Order filed at the Archives Division, 800 Summer St. NE, Salem, Oregon 97310. Any discrepancies with the published version are satisfied in favor of the Administrative Order. The Oregon Administrative Rules and the Oregon Bulletin are copyrighted by the Oregon Secretary of State. Terms and Conditions of Use

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