Oregon Revised Statutes Chapter 403 § 403.370 — Levy

Levy of taxes. (1) Each year the district board shall determine and fix the amount of money to be levied and raised by taxation, for the purposes of the district. The total amount of taxes levied in each year under this section may not exceed one-tenth of one percent (0.001) of the real market value of all taxable property within the district computed in accordance with ORS 308.207. (2) Each year a district shall also assess, levy and collect a special tax upon all property, real and personal, in an amount sufficient to pay the yearly interest and principal due on any outstanding general obligation bonds for the year. [Formerly 401.847] Note: Sections 12 to 14, chapter 671, Oregon Laws 1987, provide: Sec. 12. Section 9 of this Act [403.370] is repealed and section 13 of this Act is enacted in lieu thereof. [1987 c.671 §12] Sec. 13. (1) Each year the district board shall determine and fix the amount of money to be levied and raised by taxation, for the purposes of the district. (2) Each year a district shall also assess, levy and collect a special tax upon all taxable property within the district in an amount sufficient to pay the yearly interest and principal due on any outstanding general obligation bonds for the year. [1987 c.671 §13; 1995 c.333 §34; 2009 c.203 §35] Sec. 14. Sections 12 and 13 of this Act first become operative on the first day of the first tax year to which section 10, chapter 533, Oregon Laws 1981 [403.200], does not apply. [1987 c.671 §14]