"Governing body"
means the City of Tigard City Council.
"Low-income"
means:
1. 
For the initial year a person occupies property for which an application for exemption is filed under this chapter, income at or below 60% of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development; and
2. 
For every subsequent consecutive year that the person occupies the property, income at or below 80% of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development.
(Ord. 96-34; Ord. 19-17 §1)
A. 
Property that meets all of the following criteria will be exempt from taxation as provided in this section.
1. 
The property is owned or being purchased by a corporation described in Section 501(c)(3) or (4) of the Internal Revenue Code that is exempt from income taxation under Section 501(a) of the Internal Revenue Code.
2. 
Upon liquidation, the assets of the corporation are required to be applied first in payment of all outstanding obligations, and the balance remaining, in cash and in kind, to be distributed to corporations exempt from taxation and operated exclusively for religious, charitable, scientific, literary or educational purposes or to the State of Oregon.
3. 
The property is:
a. 
Occupied by low income persons; or
b. 
Held for the purpose of future development as low-income housing.
4. 
The property or portion of the property receiving the exemption, is actually and exclusively used for the purposes described in Section 501(c)(3) or (4) of the Internal Revenue Code.
5. 
The exemption has been approved as provided in Section 3.50.050.
B. 
For the purposes of subsection (1) of this section, a corporation that has only a leasehold interest in property is deemed to be a purchaser of that property if:
1. 
The corporation is obligated under the terms of the lease to pay the ad valorem taxes on the real and personal property used in this activity on that property; or
2. 
The rent payable by the corporation has been established to reflect the savings resulting from the exemption from taxation.
C. 
A partnership will be treated the same as a corporation to which this section applies if the corporation is:
1. 
A general partner of the partnership; and
2. 
Responsible for the day to day operation of the property that is the subject of the exemption.
(Ord. 96-34; Ord. 19-17 §1)
A. 
To qualify for the exemption provided by Section 3.50.020, the corporation must file an application for exemption with the governing body for each assessment year the corporation wants the exemption. The application must be filed on or before March 1 of the assessment year for which the exemption is applied, except that when the property designated is acquired after March 1 and before July 1, the claim for that year must be filed within 30 days after the date of acquisition. The application must include the following information:
1. 
The applicant's name, address, and telephone number;
2. 
The assessor's account number for each site;
3. 
The number of units and the exempted amount of each property being applied for under this chapter;
4. 
A description of the property for which the exemption is requested;
5. 
A description of the charitable purpose of the project and whether all or a portion of the property is being used for that purpose;
6. 
A certification of income levels of low income occupants;
7. 
A description of how the tax exemption will benefit project residents;
8. 
A declaration that the corporation has been granted an exemption from income taxes under 26 U.S.C. Section 501(c)(3) or (4);
9. 
A description of the development of the property if the property is being held for future low income housing development; and
10. 
Any other information required by state or local law or which is otherwise reasonably necessary to effectuate the purposes of this chapter at the time the application is submitted.
B. 
The application must include the following statements:
1. 
That the applicant is aware of all requirements for property tax exemption imposed by this chapter;
2. 
That the applicant's property qualified or, upon completion of the rehabilitation improvements and subsequent occupancy by low income persons, will qualify for exemption at the time of application approval or within 30 days of the March 1 application deadline;
3. 
That the applicant acknowledges responsibility for compliance with the Tigard Municipal Code, regardless of whether the applicant obtains the exemption provided by this chapter; and
4. 
That the applicant agrees to furnish other information which is reasonably necessary to fulfill the objectives of this chapter.
C. 
The applicant must verify the information provided in the application as required by subsections A and B above by oath or affirmation.
(Ord. 96-34; Ord. 19-17 §1)
A. 
Within 30 days of the filing of an application under Section 3.50.040, the governing body will determine whether the applicant qualifies for the exemption. If the governing body determines the applicant qualifies, the governing body will certify to the assessor of the county where the real property is located that all or a portion of the property be exempt from taxation under the levy of the certifying governing body.
B. 
Upon receipt of certification under subsection A of this section, the county assessor will exempt the property from taxation to the extent certified by the governing body.
(Ord. 96-34; Ord. 19-17 §1)
A. 
If the governing body determines that property that has received an exemption under this chapter in anticipation of future development of low-income housing is being used for any purposes other than the provision of low-income housing, or that any provision of this chapter is not being complied with, the governing body will give notice of the proposed termination of the exemption to the owner(s) by mailing the notice to the last known address of the owner(s), and to every known lender, by mailing the notice to the last known address of every known lender. The notice will state the reasons for the proposed termination and require the owner(s) to appear at a specified time, not less than 20 days after mailing the notice, to show cause, if any, why the exemption should not be terminated.
B. 
If the owner(s) fail to appear and show cause why the exemption should not be terminated, the governing body will notify every known lender, and allow any lender not less than 30 days after the date the notice of failure to appear and show cause is mailed to cure any noncompliance or to provide adequate assurance to the governing body that all noncompliance will be remedied.
C. 
If the owner(s) fail to appear and show cause why the exemption should not be terminated, and the lender fails to cure or give adequate assurance of the cure of noncompliance, the governing body will adopt a resolution stating its findings that terminate the exemption. Within 10 days of the adoption of the resolution, a copy of the resolution will be filed with the county assessor and sent to the owner(s) at the owner(s)' last known address and to the lender at the last known address of the lender.
D. 
Upon the county assessor's receipt of the city's termination findings:
1. 
The exemption granted to the housing unit or portion under this chapter immediately terminates, without right of notice or appeal;
2. 
The property will be assessed and taxed as other property similarly situated is assessed and taxed; and
3. 
Notwithstanding ORS 311.235, there will be added to the general property tax roll for the tax year next following the presentation or discovery, to be collected and distributed in the same manner as other real property tax, an amount equal to the difference between the taxes assessed against the property and the taxes that would have been assessed against the property had it not been exempt under this chapter for each of the years, not to exceed the last 10 years, during which the property was exempt from taxation under this chapter.
E. 
The assessment and tax rolls will show potential additional tax liability for each property granted an exemption under this chapter if the property is being held for future development of low-income housing.
F. 
Additional taxes collected under this section will be deemed to have been imposed in the year to which the additional taxes relate.
(Ord. 19-17 §1)