Oregon Department of Revenue

Rule Rule 150-457-0400
Certification of Urban Renewal Frozen Value and Apportioning Value to Tax Code Areas


(1)

“Frozen value” as used in this rule has the same meaning as in OAR 150-457-0420 (Urban Renewal Certification, Calculation and Distribution).

(2)

All certified statements and amendments filed under ORS 457.430 (Certification of assessed value of property in urban renewal area) before September 29, 1991, continue to remain in effect, unless subsequently amended pursuant to this rule. The total true cash value contained in those certified statements constitutes the total assessed value for purposes of this section.

(3)

The certified statement of the total assessed value of all taxable real and personal property contained in the urban renewal area (the frozen value), that is filed by the assessor pursuant to ORS 457.430 (Certification of assessed value of property in urban renewal area) must include totals by code area and by taxing district.

(4)

If an urban renewal agency wants to limit future collections for a plan by permanently increasing the plan’s frozen value pursuant to ORS 457.455 (Limiting collections)(2), the agency must do so by completing the portion of Department of Revenue Form UR-50 Notice to Assessor that is provided for that purpose, stating the plan name and the new frozen value amount.

(5)

If an agency with an Option Three plan notifies the assessor to permanently increase the plan’s frozen value under section (4) of this rule, the formal action taken by the agency to authorize the notice must not be in the form of an ordinance or an amendment to the certified statement filed under ORS 457.430 (Certification of assessed value of property in urban renewal area).

(6)

If an agency notifies the assessor to permanently increase a plan’s frozen value, the assessor must amend the certified statement filed under ORS 457.430 (Certification of assessed value of property in urban renewal area), using the frozen value stated by the agency on Form UR-50.

(7)

The assessor must apportion to the tax code areas in the plan area, the total frozen value stated by the agency in its notice, in the same proportions as the most recent previously certified frozen value was distributed among the code areas.

(8)

The notice described in section (4) of this rule must be submitted to the assessor by July 15 to apply to the next tax roll.

(9)

If the location of property that is centrally assessed by the Department of Revenue pursuant to ORS 308.505 (Definitions for ORS 308.505 to 308.674) to 308.665 (Railroad car exemption) or 308.805 (Mutual and cooperative electric distribution systems subject to tax on gross earnings) to 308.820 (Tax as a lien) cannot be determined, the assessor must apportion the assessed value of that property among the code areas in the same proportions as the assessed value of all real property is distributed among the code areas on the last roll certified.
[ED. NOTE: Forms referenced are available from the agency.]
Source

Last accessed
Jun. 8, 2021