This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Closing Date Prorations in Oregon

Oregon law, under Or. Rev. Stat. § 311.505, establishes the closing date as the day the buyer becomes responsible for property taxes, with the seller responsible for taxes through the day before closing. The statute provides that the seller’s share of annual taxes is computed from July 1 through the day before closing, while the buyer’s share runs from the closing date through June 30 of the following year. No statutory rate or percentage is set for the proration itself; instead, the calculation relies on the annual tax amount and the number of days each party holds title. The official source from the Oregon Department of Revenue details the rule’s application. For an estimate of a specific transaction, the calculator below uses these statutory parameters.

Governing authority

In Oregon, the closing date prorations rule is set by Or. Rev. Stat. § 311.505. The verified packet cites Or. Rev. Stat. § 311.505 (https://www.oregon.gov/dor/programs/property/).

Oregon closing date prorations: the verified value is 0% under Or. Rev. Stat. § 311.505. The verified packet cites Or. Rev. Stat. § 311.505 (https://www.oregon.gov/dor/programs/property/).

Estimate your own result: every situation has exceptions that can change the outcome. Use the closing date prorations calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.