OAR 150-308-0710
Application and Election Process for Government Restricted Multiunit Rental Housing

(1)

The property owner must file an application and election form with the county assessor to obtain a special assessment for government restricted multiunit rental housing (LIH) provided by ORS 308.701 (Definitions for ORS 308.701 to 308.724) to 308.724 (Rules). The application and election form must be filed on or before April 1 of the assessment year. The application and election form may be filed after April 1 and on or before December 31, if accompanied by a late filing fee equal to the greater of $200 or one-tenth of one percent of the real market value (RMV) of the property described in the application filed. Any application and election form that is filed late must be accompanied with the late filing fee. If the fee is not paid, the special assessment will not be granted. If the special assessment is denied by the assessor, the late filing fee must be refunded to the applicant.

(2)

At the time the application and election form is filed, the property owner must elect the method the assessor is to use to determine the specially assessed value (SAV) of the property.

(a)

If the property owner elects the income approach method, the application and election form must be accompanied by income and expense documentation. The required documents are:

(A)

The rent roll for the month of December immediately preceding the date of application. The rent roll must show the rents charged for each unit and which units, if any, are vacant; and

(B)

Annual income and expense statements for at least the three most recent years. Audited statements should be submitted, but unaudited statements may be provided if audited statements are not available; or

(C)

Pro forma income and expense statements, but only if the project is new and historical documents are not available; or

(D)

A combination of actual and pro forma income and expense statements for at least three years, if the property is not more than three years old.

(E)

For mixed-use property the applicant must provide income and expense statements only for the portion of the property used as government restricted multiunit rental housing. Mixed-use property is property that consists of both government restricted multiunit rental housing and property used for other purposes.

(b)

If the property owner elects the ratio method, the application and election form must be accompanied by the rent roll for the month of December immediately preceding the date of application. The rent roll must show the rents charged for each unit and which units, if any, are vacant.

(3)

When one of the following events occurs after the initial application and election form has been approved, the owner must submit additional information to the assessor:

(a)

The property owner wishes to change the election of the method used to determine the SAV; or

(b)

New property has been constructed at the site, or new improvements are made to the government restricted multiunit rental housing; or

(c)

The county assessor requests current income and expense statements.

(4)

The county assessor will review the application and election form and accompanying documentation and determine if the property qualifies for special assessment.

(a)

The application and election form must contain the information required under ORS 308.709 (Application procedure) for the assessor to approve the special assessment. If the application and election forms are incomplete, the assessor may request additional information from the applicant in writing, as necessary, for completion or clarification. The applicant must submit the requested information, in writing, to the assessor within 15 days of the date of the request or by the filing deadline, whichever is later, for the assessor to accept the application as a timely filing. If the applicant does not submit the requested information within the time required, the assessor may deny the application.

(b)

The assessor must notify the applicant of the determination, in writing, within 120 days of the date the application was filed with the assessor’s office.

(A)

If the application is denied, the notice to the property owner must include the instructions for appealing a denial of the special assessment by the assessor.

(B)

If the application is approved, the assessor must add the following notation to the tax and assessment rolls each year: “LIH special assessment (potential penalty if disqualified).”

Source: Rule 150-308-0710 — Application and Election Process for Government Restricted Multiunit Rental Housing, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-308-0710.

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 150-308-0710’s source at or​.us