Oregon Department of Revenue

Rule Rule 150-308-0390
Agricultural Land Devoted to Agricultural Purposes; Valuation for Ad Valorem Tax Purposes


(1)

Agricultural land devoted to agricultural purposes as defined in OAR 150-307-0420 (Agricultural Land Devoted to Agricultural Purposes as Real Property) is real property and shall, insofar as possible, be valued by the methods provided in 150-308-0240 (Real Property Valuation for Tax Purposes). When practical, the value of comparable bare land shall be utilized as primary evidence.

(2)

In the absence of comparable bare land sales, or when a partial appraisal is not feasible, the appraiser shall estimate the market value of the land and the deciduous trees, shrubs, plants and crops as a unit. The taxable value of the agricultural land devoted to agricultural purposes shall then be determined by deducting the market value of the deciduous trees, shrubs, plants and crops thereon from the total appraised market value. The market value of the deciduous trees, shrubs, plants and crops shall be determined by a method which considers:

(a)

The cost of seed, shrub, nursery tree, or cutting as culture dictates.

(b)

The cost of implanting the seed, shrub, nursery tree or cutting into the land as culture dictates.

(c)

The loss of income from the land during the period of establishing the tree, shrub and plant in condition to produce a crop.

(d)

The risk involved in establishing the tree, shrub and plant.

(e)

The quality and quantity of the trees, shrubs, plants and crops.
Source

Last accessed
Jun. 8, 2021