Oregon Revised Statutes Revenue and Taxation § 311.718

(1) Except as provided in ORS 311.722, when any of the circumstances listed in ORS 311.716 occurs, the amounts of deferred special assessment for local improvement, including accrued interest, shall be due and payable on August 15 of the year following the calendar year in which the circumstance occurs, except as provided in ORS 311.721.

(2) If the amounts falling due as provided in this section are not paid on the indicated due date, the amounts shall be deemed delinquent as of that date and the homestead shall become subject to foreclosure as provided in ORS 311.711.