Determining value for farm use
- procedure
Source:
Section 308A.092 — Determining value for farm use; procedure, https://www.oregonlegislature.gov/bills_laws/ors/ors308A.html.
Notes of Decisions
Where market data approach to valuation of cow/calf grazing operation was impracticable because of lack of comparable sales, income approach to value under this section was used. Aspen Valley Ranch v. Dept. of Rev., 8 OTR 332 (1980)
Income test of this section for appraising farmland requires information concerning land comparable to that at issue and method of appraisal of farm use value of orchard land, using bare farmland leases, was faulty because bare farmland is not comparable to orchard land. Benton v. Dept. of Rev., 300 Or 547, 715 P2d 489 (1986)
Agricultural land income approach is valid only if interest rates used in calculating imputed income and capitalization rate are identical. Blanco Bogs, Inc. v. Department of Revenue, 14 OTR 1 (1996)
Law Review Citations
53 OLR 120-122, 125 (1974); 10 WLJ 443, 457 (1974)
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