Economic Development III

ORS 285C.170
Construction-in-process exemption

(1)

Property shall be exempt from ad valorem property taxation under this section if:

(a)

The property is located in an enterprise zone;

(b)

The property is owned or leased by an authorized business firm or the business firm is contractually obligated to own or lease the property upon the property’s being placed in service;

(c)

The property is or, upon completion of the construction, addition, modification or installation of the property, will be qualified property;

(d)

The authorization of the business firm remains active under ORS 285C.140 (Application for authorization) or 285C.165 (Extension of period of authorization);

(e)

The property has not been subject to exemption under ORS 307.330 (Commercial facilities under construction) at the location;

(f)

The property is not and will not be centrally assessed under ORS 308.505 (Definitions for ORS 308.505 to 308.674) to 308.674 (Exemption equal to difference between real market value of company’s centrally assessable property and 130 percent of cost of company’s centrally assessable real and tangible personal property);

(g)

The property is not to be operated as all or a part of a hotel, motel or destination resort; and

(h)

There is no known reason to conclude that the property or the firm will not satisfy any applicable requirements for the property to be exempt under ORS 285C.175 (Enterprise zone exemption) upon being placed in service.

(2)

Property may be exempt under this section for no more than two tax years, which must be consecutive.

(3)

In determining whether property is exempt under this section, the county assessor:

(a)

Shall adhere to the same procedures as apply under ORS 285C.175 (Enterprise zone exemption) (6) and (7); and

(b)

May require the submission of additional evidence by the authorized business firm or zone sponsor showing that the property qualifies for exemption under this section. If required, the additional evidence must be submitted on or before April 1 of the assessment year.

(4)

The exemption under this section does not depend on the property or the authorized business firm receiving the exemption under ORS 285C.175 (Enterprise zone exemption) or satisfying requirements applicable to the exemption under ORS 285C.175 (Enterprise zone exemption).

(5)

A year in which property is exempt under this section shall be considered a year in which the property is exempt under ORS 307.330 (Commercial facilities under construction) for purposes of determining the maximum number of years for which the property may be exempt under this section or ORS 307.330 (Commercial facilities under construction). [2003 c.662 §34b]
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Last accessed
Jun. 26, 2021

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