Denial of exemption for failure to reflect exemption by rent reduction
The funded property tax exemption granted under ORS 307.241 (Policy) to 307.248 (Suspense account) may not be granted in any year following a year for which the corporation has failed to satisfy the county assessor or the Department of Revenue that the exemption granted in the previous year has been reflected by a reduction in the amount of rent that would otherwise be paid for occupancy of the facility by its residents. [1977 c.411 §5; 2005 c.94 §33]
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