Oregon Revised Statutes Revenue and Taxation § 307.245

The funded property tax exemption granted under ORS 307.241 to 307.248 may not be granted in any year following a year for which the corporation has failed to satisfy the county assessor or the Department of Revenue that the exemption granted in the previous year has been reflected by a reduction in the amount of rent that would otherwise be paid for occupancy of the facility by its residents.