(1) For all Senior Citizen Deferral accounts established under ORS 311.666 through 311.696, the department must record a lien estimate in the mortgage records of the appropriate county. The lien estimate is made from the following:
- (a) Future deferred taxes based on the taxpayer-applicant’s life expectancy, as determined by actuarial tables, with an inflation factor added for the tax amount,
- (b) Interest to be charged, and
- (c) Fees paid for lien recording, release, or satisfaction.
- (2) The amount owing on an account, at any one time, equals the actual deferred tax, interest on the account, and any lien recording, release or satisfaction fees.
Statutory/Other Authority
ORS 305.100
Statutes/Other Implemented
ORS 311.679
History
Renumbered from 150-311.679-(A), REV 27-2016, f. 8-12-16, cert. ef. 9-1-16
Renumbered from 150-311.679, REV 2-2002, f. 6-26-02, cert. ef. 6-30-02
12-31-92