A perusal of documents and maps available online at the Tillamook County Assessor's webpage shows 46 private tax lots (not including county and federal) owned by 43 individuals, trusts, or corporations, located in "Bayocean Park". Only 12 of them are on land. The other 34 are in the Pacific Ocean.
On page 120 of Bayocean: The Oregon Town that Fell Into the Sea (1999) Bert and Margie Webber reported owners explaining "their lot was willed to them 'and it wouldn't be right to part with it.'" Unsettled estates held some property. A few people were willing to pay the small annual tax just because of emotional attachment. Bert's son Dale recently told me by phone that folks his father called were insulted when he asked them if they realized the land they were paying taxes on was in the ocean. Because, of course, asking the question implied Bert thought they were stupid. So, he quit calling. Some thought the land might someday rise again from the ocean and be cherished by their descendants. Sand accretion after the construction of the south jetty fueled their hopes.
Today, maintaining a Bayocean lot for emotional reasons doesn't cost anything because Tillamook County values them at zero because nothing permanent can be built on them. The Summary Report for many of the lots in the Pacific Ocean includes this note: "EXEMPTION: WEST OF VEG LINE, ALL 307.450". One exception is Bay Ocean LLC, the company that proposed an eco-park; and it's only paying $18.75 per year for 53 acres.
The map below is from the Tillamook County Assessor's web page. It shows lots in the ocean located west of what is now the beach connecting Bayocean spit to Cape Meares, parallel to the Dike Road. The jagged, dotted line roughly approximates the modern shoreline. Additional maps cover property ownership on Bayocean north of this. Posting them all would take up too much space.