OAR 150-308-0380
Appraisal of Real Property

The following constitutes standards for the valuation of real property except for property assessed under ORS 308.505 (Definitions for ORS 308.505 to 308.674) to 308.665 (Railroad car exemption) and ORS 308.805 (Mutual and cooperative electric distribution systems subject to tax on gross earnings) to 308.820 (Tax as a lien).

(1)

Industrial property. In the case of industrial properties, appraisals must conform with the following conditions:

(a)

Basic data and supplemental data for an appraisal must be the same as required in ORS 308.290 (Returns) and 308.411 (Appraisal and real market valuation of industrial plants). Valid data in any previous appraisal such as property descriptions, inventory listing, maps, etc., may be used in the appraisal.

(b)

An appraisal as provided by the industrial property return process is not an appraisal contemplated under ORS 308.234 (Record of last appraisal).

(c)

A valuation review as provided in OAR 150-308-0300 (Valuation Review of State-appraised Industrial Property.) is an appraisal as contemplated under ORS 308.234 (Record of last appraisal), if the valuation review meets the requirements of 308.411 (Appraisal and real market valuation of industrial plants).

(d)

Nothing in this rule is intended to invalidate any assessment that appears on the assessment roll.

(2)

All other real property. Real property must be valued at its real market value (RMV) using methods approved by the department and the results must meet the performance standards required by this rule.

(a)

The following definitions apply for the purposes of this rule:

(A)

“Coefficient of dispersion” (COD) is the average absolute deviation of a group of numbers from the median expressed as a percentage of the median. In ratio studies, it refers to the average absolute deviation from the median ratio, expressed as a percent of the median ratio.

(B)

“Homogeneous” describes a market area where the properties have a high degree of similarity in one or more of the following: type, use, quality, or condition.

(C)

“Market area” is defined as a group of properties that share important characteristics affecting their value. It may be defined along physical/geographical or abstract boundaries or, as in the case of commercial property, according to use. Properties included in a market area do not have to be contiguous.

(D)

“Nonhomogeneous” means market areas that do not meet the definition of “homogeneous.”

(b)

ORS 308.232 (Property to be valued at 100 percent real market value and assessed at assessed value) requires that all real property be valued at 100 percent of its RMV. Achieving and maintaining RMV is measured by the ratio study. Ratios must be computed for each market area, where possible. In market areas where the amount of sales data is insufficient for statistical analysis, one or more of the following actions should be taken to provide adequate data:

(A)

A two-year sales sample may be used;

(B)

Comparable market areas may be combined; or

(C)

Appraisal ratio data may be included.

(c)

Criteria for results-based valuation standards:

(A)

RMV at 100 percent.

(B)

COD standards for measuring equity of RMV: [Formula not included. See ED. NOTE.]

(C)

Exceptions to COD standards. When a market area does not meet the standards because of a market anomaly, the correction may be delayed until the following year, waived, or have alternate standards applied, as approved by the Department of Revenue.

(d)

The department will determine compliance with standards of this rule by annual reviews of the results determined by the county.

(A)

If compliance deficiencies are found, the department must make written notification to the assessor of the deficiencies and identify appropriate corrective action. Within 30 days of notification of the deficiencies, the assessor must respond in writing to the department as to the action to be taken to correct the identified deficiencies.

(B)

In the event an assessor’s program has been found to be deficient and the assessor does not take action to correct the deficiencies as outlined in the department’s written notification, the department will take action as required by ORS 308.062 (Action by department when appraisals not being conducted as provided by law).
[ED. NOTE: Formulas referenced are available from the agency.]
[ED. NOTE: To view attachments referenced in rule text, click here to view rule.]

Source: Rule 150-308-0380 — Appraisal of Real Property, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-308-0380.

150‑308‑0010
Continuing Education Requirements for Registered Appraisers, Waiver of those Requirements, and Revocation of Registrations 150‑308‑0020
Revocation of Appraiser Registration 150‑308‑0030
Appraiser Trainee Program 150‑308‑0040
Standards for Imposition, Waiver, and Reduction of Penalty on Utilities and Designated Companies Assessed by the Department. Imposition of Penalty for Failure to File a Timely or Complete Return 150‑308‑0050
Continuing Education Requirements for Assessors 150‑308‑0060
Continuing Education Requirement for Appraisal Managers in County Assessment Offices 150‑308‑0070
Qualifications of Managerial Employees of the Assessor’s Office 150‑308‑0080
Taxable Personal Property Whose Temporary Situs Is in the State of Oregon 150‑308‑0090
Billboards as Real Property 150‑308‑0100
Determining Maximum Assessed Value when the Property Class is Changed 150‑308‑0110
Reduction of Maximum Assessed Value (MAV) for Property Destroyed or Damaged by Fire or Act of God 150‑308‑0120
Reduction of Maximum Assessed Value (MAV) When a Building is Demolished or Removed 150‑308‑0130
Definitions 150‑308‑0140
Computation of Changed Property Ratio for Centrally Assessed Property 150‑308‑0150
Net Capitalized Additions 150‑308‑0160
Minor Construction 150‑308‑0170
Establishing a Changed Property Ratio 150‑308‑0180
Definition of Affected 150‑308‑0190
Subdivided and Partitioned Property MAV 150‑308‑0200
Rezoned Property — Calculating Maximum Assessed Value (MAV) 150‑308‑0210
Omitted Property—Allocating Maximum Assessed Value (MAV) 150‑308‑0220
Exemption, Partial Exemption or Special Assessment Disqualification — Allocating MAV 150‑308‑0230
Calculation of Maximum Assessed Value (MAV) for Lot Line Adjustments 150‑308‑0240
Real Property Valuation for Tax Purposes 150‑308‑0245
Partial Exemptions and Special Assessments of Land 150‑308‑0250
Derivation of Capital Structure and Discount Rates for Valuing Industrial Properties and Department-Assessed Properties 150‑308‑0260
Industrial Property Valuation for Tax Purposes 150‑308‑0270
Valuation of Contaminated Property 150‑308‑0280
Measuring Functional Obsolescence in Industrial Property 150‑308‑0290
Effective Tax Rate 150‑308‑0300
Valuation Review of State-appraised Industrial Property. 150‑308‑0310
Real Market Value and Property Classification as Part of Assessment Roll 150‑308‑0320
Property With Multiple Leases Assessed as One Parcel 150‑308‑0330
Contents of Assessment Roll for Condominiums 150‑308‑0340
Printout or Microfiche Required When Assessment and Tax Rolls do not Constitute a Written Record 150‑308‑0350
Filing Requirements for Certain Delayed Annexations by Cities 150‑308‑0355
Filing Requirements for Boundary Changes 150‑308‑0360
Appraisals of Real Property by Registered Appraisers 150‑308‑0370
Determining Taxable Value for Assessment Charges on Property Exempt from Taxation 150‑308‑0380
Appraisal of Real Property 150‑308‑0390
Agricultural Land Devoted to Agricultural Purposes 150‑308‑0400
Stipulation Procedures 150‑308‑0410
Cancellation of Personal Property Assessments 150‑308‑0420
Exemption of Watercraft Undergoing Repairs 150‑308‑0430
Valuation of New Construction 150‑308‑0440
Confidentiality — Returns of Taxable Property 150‑308‑0450
Industrial Property Returns — Incomplete Returns and Late Filing Penalties 150‑308‑0470
County Contractors Having Access to Confidential Records 150‑308‑0480
Confidentiality of Property Tax Information for Centrally Assessed Companies 150‑308‑0490
Appraisal and Valuation of Industrial Plants 150‑308‑0500
Confidentiality of Industrial Plant Information 150‑308‑0510
Definition of Destroyed or Damaged 150‑308‑0520
Valuation of Nonprofit Homes for the Elderly 150‑308‑0530
Defining “Communication Services” 150‑308‑0540
Assessment of Properties of Designated Utilities and Companies by Department of Revenue 150‑308‑0550
Property Used for Guide Service 150‑308‑0560
Confidentiality of Appraisals of Designated Utilities and Companies by Department of Revenue 150‑308‑0570
Computation of Changed Property Ratio for Centrally Assessed Property 150‑308‑0580
Allocation of Mobile Aircraft Property Value 150‑308‑0585
Procedure for Determining Oregon Property Value for Private Railroad Car Companies 150‑308‑0590
Allocation of Centrally Assessed Electric Company Property Value 150‑308‑0595
Allocation of Centrally Assessed Gas Distribution Company Property Value 150‑308‑0600
Allocation of Centrally Assessed Pipeline Company Property Value 150‑308‑0605
Allocation of Centrally Assessed Railroad Company Property Value 150‑308‑0610
Allocation of Centrally Assessed Communication Company Property Value 150‑308‑0615
Allocation of Centrally Assessed Water Transportation Company Property Value 150‑308‑0660
Unit Valuation of Centrally Assessed Properties 150‑308‑0670
Contents of the Utility Assessment Roll 150‑308‑0680
Contents of Department’s Journal 150‑308‑0690
Centrally Assessed Property — Appraisal Guidelines 150‑308‑0695
Removal of Certain Elected Exempt Property from Correlated System Real Market Value of Centrally Assessed Property 150‑308‑0700
Qualification of Property for Special Assessment as Government Restricted Multiunit Rental Housing 150‑308‑0710
Application and Election Process for Government Restricted Multiunit Rental Housing 150‑308‑0720
Special Assessment of Government Restricted Multiunit Rental Housing Property 150‑308‑0730
Special Assessment Disqualification Process 150‑308‑0740
Process for Voluntary Disqualification from Special Assessment Program and Subsequent Application 150‑308‑0750
Payment of Taxes on Manufactured Structure That Allows Change from Real Property to Personal Property Status 150‑308‑0760
Manufactured Structure Classified as Real or Personal Property 150‑308‑0770
Real and Personal Manufactured Dwellings to be Assessed in Like Manner 150‑308‑1010
Farm Use Definitions, Inactivity Due to Illness, and Description of Lands in Non-Exclusive Farm Use 150‑308‑1020
Disposal by donation to a local food bank or school 150‑308‑1030
Assessment of Farmlands Within Exclusive Farm Use (EFU) Zones 150‑308‑1040
Assessment of Farmlands Outside of Exclusive Farm Use (EFU) Zones 150‑308‑1050
Gross Income Requirement 150‑308‑1060
Wasteland 150‑308‑1070
Acquired Land as Part of Farming Unit 150‑308‑1080
Valuation of Certain Agricultural Land to Reflect Value for Farm Use Only 150‑308‑1090
Calculation of MSAV When SAV Soil Classification is Changed 150‑308‑1100
Disqualification of Exclusive Farm Use Farmland 150‑308‑1110
Disqualification of Non-Exclusive Farm Use (Non-EFU) Farmland 150‑308‑1120
Definition of Specially Assessed Homesites 150‑308‑1130
Application for Specially Assessed Homesite 150‑308‑1140
Qualified Specially Assessed Homesite Valuation 150‑308‑1150
Ratio Calculation for Open Space Lands 150‑308‑1500
Additional Tax Calculation and When to Impose Additional Tax 150‑308‑1510
No Additional Tax 150‑308‑1520
Deferred Additional Tax (ORS 308A.706) 150‑308‑1530
Disqualification Notification Procedures
Last Updated

Jun. 8, 2021

Rule 150-308-0380’s source at or​.us