OAR 150-308-1140
Qualified Specially Assessed Homesite Valuation

(1)

Definitions:

(a)

“Parcel” is a quantity of land that is capable of being described in a single description by a closed traverse, or as one of a number of subsections or sections in a township(s), or as lots, blocks, or tracts in a subdivision. A “parcel” may consist of one or more tax lots.

(b)

“Contiguous” means having a common boundary to some extent greater than a point. Parcels are contiguous if separated by public or county roads, state highways, or non-navigable streams or rivers. Parcels are not contiguous if they are separated by interstate freeways, or navigable streams or rivers, except where there is direct connecting access, such as an underpass, for property separated by an interstate freeway.

(c)

“Site Developments” has the same meaning as in OAR 150-307-0010 (Real Property).

(d)

“Land Improvements” is synonymous with “site developments.”

(e)

“Same Ownership” — to be considered the “same ownership,” separate land accounts (tax lots) must have a common name in the property title. For example, a parcel owned by one person in his or her name is under the same ownership as a parcel owned jointly by spouses in a marriage. Properties do not have the “same ownership” if one parcel is owned by spouses in a marriage and the other parcel is owned by a corporation even though the corporation is owned by the spouses.

(f)

“MSAV” means maximum assessed value for property subject to special assessment (maximum specially assessed value).

(2)

Land comprising homesites for dwellings being used in conjunction with farm use in EFU zones, qualifying homesites outside the EFU zones, and qualified forest homesites must be valued at the special value provided by ORS 308A.256 (Maximum assessed value and assessed value of homesites). Land comprising a non-qualifying homesite must be assessed at its real market value as defined in 308.205 (Real market value defined) pursuant to 308A.259 (Disqualification of homesite).

(3)

The method for determining the value for a qualified homesite is the same whether the homesite is located within an exclusive farm use (EFU) zone, an area not zoned for exclusive farm use (non-EFU), or for forest homesites as defined in ORS 308A.253 (Qualification of homesites)(1).

(a)

The first step in valuing a qualified homesite is to determine the total number of acres of the “parcel” and contiguous acres under the same ownership.

(b)

The second step is to determine the bare land average per acre real market value (RMV) of the parcel. To do this:

(A)

First, determine the total bare land RMV (including riverfront, view, etc.) for the parcel and contiguous acres under the same ownership on which the homesite is located.

(B)

Second, divide the total bare land RMV of the parcel and contiguous acres under the same ownership by the total number of acres in the parcel and contiguous acres under the same ownership.

(C)

The result is the average RMV for one acre of the parcel and contiguous acres under the same ownership.

(c)

The third step is to determine the specially assessed value (SAV) of the “land improvements.” The SAV of land improvements are to be valued at $4,000, or the depreciated replacement cost of the items that make up the land improvements, whichever is less.

(d)

The average RMV of one acre of the land plus the land improvement SAV equals the total “homesite” SAV. However, the land improvement value must be carried as a separate item on the land record as specified in OAR 150-307-0010 (Real Property).

(4)

Calculation of homesite MSAV.

(a)

For the 1997–98 tax year, the MSAV on homesites qualified for the 1995–96 tax year and before equals the homesite’s SAV for the 1995–96 tax year reduced by 10 percent.

(b)

For the 1997–98 and subsequent tax years, the MSAV of any newly qualified homesite equals the product of the residential rural property class 4-X-X changed property ratio multiplied by the farm or forest homesite SAV. The MSAV for a homesite first qualified for the 1996–97 tax year is calculated under this subsection for the 1997–98 tax year.

(c)

Once the MSAV of a homesite has been established by subsection (a) or (b) above, the MSAV increases 3% each year thereafter.

(5)

The assessed value of a qualified farm or forest homesite equals the lesser of the homesite’s SAV or the homesite’s MSAV.

Source: Rule 150-308-1140 — Qualified Specially Assessed Homesite Valuation, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-308-1140.

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 150-308-1140’s source at or​.us