Oregon
Rule Rule 125-045-0215
Appraisal and Determination of Value of Real Property Interests


(1)

Prior to Acquisition from or Terminal Disposition to a party other than an Agency of a Real Property Interest, the Acquiring or Disposing Agency shall obtain an Appraisal of the Real Property Interest.

(2)

For dispositions and acquisitions with an estimated fair market value of less than $100,000, a letter of opinion from a licensed real estate professional constitutes an Appraisal.

(3)

If the estimated fair market value of the Real Property Interest is $100,000 or greater, the Administrator:

(a)

Shall either select or approve the selection of an appraiser by the Disposing Agency;

(b)

Must approve of the form and substance of the written Appraisal and the final determination of Appraised Fair Market Value by the appraiser; and

(c)

May require that more than one Appraisal be obtained to establish the Appraised Fair Market Value.

(4)

Upon written request by an Agency, the Administrator may preapprove the Agencys appraisal process provided the process is consistent with this rule.

(5)

Upon written request by an Agency, the Administrator may preapprove the Agencys use of a directed appraisal for a particular use.

(6)

Except for transfers from one Agency to another, an Agency shall not sell or dispose of any State Real Property Interest for less than its Appraised Fair Market Value without complying with OAR 125-045-0245.

(7)

Prior to Terminal Disposition of a State Real Property Interest to other than an Agency, and regardless of the Appraised Fair Market Value of the State Real Property Interest, the Disposing Agency shall consider all the values of the State Real Property Interest to the people of the State, including values for fish and wildlife habitat and public access to other real property. If the Appraised Fair Market Price of the State Real Property Interest is greater than $100,000, the public will be invited to comment on the value of the State Real Property Interest. The Agency will solicit public comment in the manner defined in OAR 125-045-0235 or in a method the Division approves.
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Last accessed
Oct. 16, 2019