Bill > HB2088

This bill establishes a comprehensive process for handling surplus funds when property is foreclosed for delinquent taxes in Oregon. The legislation requires counties to take several steps to ensure former property owners are notified about potential surplus funds and have an opportunity to claim them. Counties must now conduct due diligence to locate property owners, provide multilingual notices with detailed warnings about potential foreclosure, and include information about housing counselors and legal resources. When a foreclosed property is sold for more than the outstanding taxes and fees, the former owner or their heirs can claim the surplus through the State Treasurer. The bill mandates that counties determine the surplus value within 60 days of selling the property, deducting allowable costs such as unpaid taxes, legal fees, and property maintenance expenses. If the surplus remains unclaimed, it will be treated as unclaimed property and managed according to state regulations. The bill applies to foreclosure notices issued on or after May 25, 2017, and aims to provide more transparency and support for property owners facing tax foreclosure by ensuring they are fully informed about their rights and potential financial recovery.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2088