Public reminded of March 15 property tax return deadline

Each individual, partnership, firm or corporation that has tangible personal property is required by Oregon law to file a personal property tax return by March 15 each year. There are no extensions available due to a 2015 amendment to ORS 308.290.

The return must contain a full listing of all assets, date of acquisition, cost and a statement of value. This information is kept confidential. If the assessed value of your property totals less than $20,000, the taxes will be canceled.

Tax return forms are available online at www.oregon.gov/DOR/forms.

Returns filed after March 15 through June 1, 2022, are subject to a 5 percent late filing penalty. Returns filed June 2, 2022, through Aug. 1, 2022, are subject to a 25 percent late filing penalty. Returns filed after Aug. 1, 2022, or not at all are subject to a 50 percent late filing penal

In addition, a seller of business personal property is required to provide a buyer with a disclosure notice that includes whether any property taxes are outstanding (known as bona fide purchaser). Potential buyers must search the county’s lien records and the secretary of state’s uniform commercial code records. Buyers become liable for any outstanding taxes.

Additional information may be found on the Oregon Department of Revenue’s website at www.oregon.gov/DOR/programs/businesses.

Questions should be directed to the Lane County Assessment and Taxation Office at 541-682-4321 from 10 a.m. to 3 p.m., Monday through Thursday.