OAR 150-311-0520: Date Property Becomes Exempt when Foreclosed by City for Delinquent Assessment Liens

For purposes of determining the tax exemption of the property under ORS 307.090 and the exemption of interest and penalty under ORS 311.520, a city acquires title to the property immediately following the sale of the property to the city as a result of foreclosure for delinquent assessment liens.