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OR SB675

Bill

Official Source

Status

Failed

6/27/2025

Primary Sponsor

Daniel Bonham

Click for details

Origin

Senate

2025 Legislative Measures

AI Summary

  • Reduces the interest rate on unpaid property taxes from 1⅓% per month to ½% per month (from 16% annually to 6% annually)
  • Applies to delinquent property taxes, other charges, and penalties for disqualification from special assessment or exemption
  • Interest accrues on taxes not paid by December 15 (first third), February 15 (second third), or May 15 (final third)
  • Amendments apply only to interest that begins accruing on or after the effective date
  • Takes effect on the 91st day following adjournment of the 2025 regular legislative session

Legislative Description

Relating to interest on unpaid property taxes; prescribing an effective date.

Last Action

In committee upon adjournment.

6/27/2025

Committee Referrals

Finance and Revenue1/17/2025

Full Bill Text

No bill text available