Oregon Department of Revenue

Rule Rule 150-457-0410
Notice to Assessor of Amounts to be Raised for Urban Renewal


(1)

“Frozen value,” “increment value,” “increment value used” and “maximum authority” as used in this rule have the same meanings as in OAR 150-457-0420 (Urban Renewal Certification, Calculation and Distribution).

(2)

The notice to the assessor required by ORS 457.440 (Computation of amounts to be raised from property taxes)(2) must be made using Department of Revenue Form UR-50 Notice to Assessor.

(3)

An urban renewal agency with an Option One plan may request on Form UR-50:

(a)

One hundred percent of the amount available to the plan from division of tax under ORS 457.440 (Computation of amounts to be raised from property taxes) plus, if the amount estimated to be received from 457.440 (Computation of amounts to be raised from property taxes) is not sufficient to meet the budgeted obligations of the plan, a special levy in any amount up to the remainder of the plan’s maximum authority, or

(b)

An amount of increment value used that the agency estimates will raise some lesser amount of division of tax, as provided under ORS 457.455 (Limiting collections)(1).

(4)

If an agency with an Option One plan requests one hundred percent of the division of tax under subsection (3)(a) of this rule, a request for a special levy must state the dollar amount to be raised or the percentage of the remainder of the plan’s maximum authority that the agency wants.

(5)

If an urban renewal agency with an Option One plan requests an amount of increment value used under subsection (3)(b) of this rule, the plan may not request a special levy.

(6)

An urban renewal agency with an Option Three plan may request:

(a)

The amount of division of tax stated in the ordinance adopted under ORS 457.435 (Property tax collection methods for existing plans) selecting Option Three, plus a special levy; or

(b)

An amount of increment value used that the agency estimates will raise some lesser amount of division of tax as provided under ORS 457.455 (Limiting collections)(1), plus a special levy.

(7)

If an urban renewal agency with an Option Three plan requests an amount of increment value used, under subsection (6)(b) of this rule and a special levy:

(a)

The amount of special levy requested may not exceed the amount calculated by subtracting the amount of division of tax stated in the ordinance adopted under ORS 457.435 (Property tax collection methods for existing plans) selecting Option Three from the plan’s maximum authority as limited by 457.435 (Property tax collection methods for existing plans)(3).

(b)

The request for a special levy must state the dollar amount to be raised or the percentage of the amount calculated in subsection (7)(a) of this rule that the agency wants.

(8)

An urban renewal agency with a plan other than an Option One plan or an Option Three plan may request:

(a)

One hundred percent of the amount available to the plan from division of tax under ORS 457.440 (Computation of amounts to be raised from property taxes); or

(b)

An amount of increment value used that the agency estimates will raise some lesser amount of division of tax, as provided under ORS 457.455 (Limiting collections)(1) or 457.470 (Modification of assessed value).

(9)

If an urban renewal agency requests a permanent increase in the amount of frozen value in the certification filed by the assessor under ORS 457.430 (Certification of assessed value of property in urban renewal area), as provided in 457.455 (Limiting collections)(2), the agency must notify the assessor of the new frozen value by completing the portion of the Form UR-50 provided for that purpose, stating the plan name and the new frozen value amount. The form must be submitted to the assessor in accordance with OAR 150-457-0400 (Certification of Urban Renewal Frozen Value and Apportioning Value to Tax Code Areas).

(10)

If an urban renewal agency with an Option One plan notifies the assessor to permanently increase the plan’s frozen value under section (9) of this rule, the plan may never again request a special levy.

(11)

If an agency with an Option Three plan notifies the assessor to permanently increase the plan’s frozen value under section (9) 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).

(12)

If Portland Public School District wishes to exclude from urban renewal division of tax for the current fiscal year that portion of its permanent tax rate limitation by which that limitation was increased upon retirement of the district’s gap bonds, the district must notify the assessors of each county in which division of tax is calculated using the district’s permanent rate. This notification must be submitted to the assessors with Department of Revenue Form ED-50 Notice to Assessor and show both the tax rate to be excluded from division of tax and the tax rate under the district’s permanent rate limitation that the district wishes to impose for district operations. The maximum rate that can be excluded from division of tax is $0.5038 per $1,000 of assessed value.
[ED. NOTE: Forms referenced are available from the agency.]
Source

Last accessed
Jun. 8, 2021