(1) Application shall be made on or before December 1 of the calendar year immediately preceding the first assessment year for which exemption is requested, and shall be accompanied by the application fee required under ORS 307.527. However, if the property is acquired after November 1, the application shall be made within 30 days after the date of acquisition. (2) Within 60 days of the filing of an application under ORS 307.521, the governing body shall take final action upon the application as provided under ORS 307.527, and certify the results of the action to the county assessor, as set forth in ORS 307.512. (3) Upon receipt of certification under subsection (2) of this section, the county assessor shall exempt the property from taxation to the extent certified by the governing body. (4) Notwithstanding the dates specified in ORS 307.517, 307.518 and 307.520, property granted exemption pursuant to an application filed under ORS 307.517, 307.518 or 307.520 before July 1, 2030, shall continue to receive the exemption on the same terms, including duration, on which the exemption was granted.
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