Or. Admin. R. 150-312-0040 - 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). Examples 1 & 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.

Notes

Or. Admin. R. 150-312-0040

RD 11-1990, f. 12-20-90, cert. ef. 12-31-90; Renumbered from 150-312.110, REV 23-2016, f. 8-11-16, cert. ef. 9/1/2016; REV 20-2017, f. & cert. ef. 6/28/2017

Examples referenced are available from the agency.

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 312.110