Assessment of Property for Taxation

ORS 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

  • limitations
  • exclusivity


(1)

The property of a company described in ORS 308.515 (Department to make annual assessment of designated utilities and companies) (1) shall be granted an exemption in the amount of the positive value, if any, obtained by subtracting from the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment, reduced by the amount of any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), an amount equal to the historical or original cost of the company’s real property and tangible personal property included in the unit subject to central assessment, without reduction for any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), multiplied by 130 percent.

(2)

If the amount determined under subsection (1) of this section is not positive, the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment, reduced by the amount of any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), shall be the real market value of the company’s property for the property tax year.

(3)

Notwithstanding subsection (1) of this section, an exemption granted under this section may not exceed an amount equal to 95 percent of the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment.

(4)

(a) If the property of a company is granted an exemption under this section for a property tax year, the property is not eligible for any other exemption from ad valorem property taxation for the property tax year.

(b)

Notwithstanding paragraph (a) of this subsection:

(A)

An exemption granted under ORS 308.671 (Elective exemption of certain communication-related property) to property that is granted an exemption under this section shall be allowed in the manner provided under this section and ORS 308.671 (Elective exemption of certain communication-related property).

(B)

An exemption granted under this section for a property tax year has no effect on the benefits that the property of the company or the company may be granted under ORS chapter 285C or ORS 307.123 (Property of strategic investment program eligible projects) for the property tax year. [2015 c.23 §3; 2019 c.164 §3]
Note: Section 11, chapter 23, Oregon Laws 2015, provides:
Sec. 11. (1) ORS 308.518 (Legislative intention with respect to ownership or operation of data centers) and 308.519 (Local assessment of data center property) and the amendments to ORS 308.505 (Definitions for ORS 308.505 to 308.674) and 308.516 (Certain exceptions to ORS 308.515) by sections 7 and 9, chapter 23, Oregon Laws 2015, apply to property tax years beginning on or after July 1, 2015.

(2)

The amendments to ORS 308.671 (Elective exemption of certain communication-related property) by section 4, chapter 23, Oregon Laws 2015, apply to property tax years beginning on or after July 1, 2016.

(3)

ORS 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) applies to property tax years beginning on or after July 1, 2016, and before July 1, 2025. [2015 c.23 §11; 2019 c.164 §4; 2019 c.578 §5]
Chapter 308

Notes of Decisions

Programs administered by Department of Revenue that allow preferential assessment for farm and forestland are not "programs affecting land use" and are not subject to requirement of statewide goal and local comprehensive plan compliance under ORS 197.180. Springer v. LCDC, 111 Or App 262, 826 P2d 54 (1992), Sup Ct review denied

Atty. Gen. Opinions

Application of Article XI, section 11b of Oregon Constitution to this chapter, (1990) Vol 46, p 388

Law Review Citations

5 EL 516 (1975)


Source

Last accessed
Jun. 26, 2021