ORS 457.445
Consolidated billing tax rate

  • impairment certificates
  • election to become reduced rate plan

(1)

As used in this section, “post-2012 local option tax” means a local option tax, as defined in ORS 280.040 (Definitions for ORS 280.040 to 280.145), that is approved by taxing district electors after January 1, 2013.

(2)

The consolidated billing tax rate of an urban renewal plan equals the total of all taxing district ad valorem property tax rates used to extend taxes, after any adjustment to reflect tax offsets under ORS 310.105 (Rate adjustments to reflect nontimber offsets).

(3)

Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a standard rate plan excludes any rate derived from:

(a)

An urban renewal special levy under ORS 457.435 (Property tax collection methods for existing plans); and

(b)

A post-2012 local option tax.

(4)

Intentionally left blank —Ed.

(a)

Notwithstanding subsection (3)(b) of this section, the consolidated billing tax rate of a standard rate plan includes a post-2012 local option tax imposed in a fiscal year for which the urban renewal agency files with the county assessor an impairment certificate in the manner described in paragraph (b) of this subsection not later than the May 1 immediately preceding the beginning of the fiscal year.

(b)

An impairment certificate must:

(A)

Identify the urban renewal plan to which it relates;

(B)

Instruct the county assessor to include the post-2012 local option tax in the consolidated billing tax rate for the urban renewal plan for the ensuing fiscal year;

(C)

State that the urban renewal agency has reasonably determined that excluding the post-2012 local option tax from the consolidated billing tax rate for the fiscal year under this subsection would impair contracts that the agency has entered into with owners of indebtedness incurred before October 7, 2013, to carry out the standard rate plan; and

(D)

Be signed by an authorized representative of the agency.

(5)

Intentionally left blank —Ed.

(a)

The governing body of a municipality that adopted a standard rate plan, other than an existing urban renewal plan designated as an Option Three plan under ORS 457.435 (Property tax collection methods for existing plans) (2)(c), may, by ordinance or resolution, irrevocably elect to become a reduced rate plan.

(b)

An election made pursuant to this subsection applies first to the next following assessment roll if the assessor has received notice of the election from the urban renewal agency before January 1.

(6)

Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a reduced rate plan excludes any rate derived from:

(a)

An urban renewal special levy under ORS 457.435 (Property tax collection methods for existing plans);

(b)

A local option tax, as defined in ORS 280.040 (Definitions for ORS 280.040 to 280.145);

(c)

A tax pledged to repay exempt bonded indebtedness, as defined in ORS 310.140 (Legislative findings), other than exempt bonded indebtedness used to fund local government pension and disability plan obligations that, until funded by the exempt bonded indebtedness, were described in Article XI, section 11 (5), of the Oregon Constitution, that is approved by taxing district electors after October 6, 2001; and

(d)

The increase in the rate of ad valorem property tax allowable under Article XI, section 11 (5)(d), of the Oregon Constitution, for a school district with a statutory rate limit on July 1, 2003, that is greater than $4.50 per $1,000 of assessed value, to the extent that the increase is excluded from local revenues, as that term is used in ORS chapter 327, and provided that the school district notifies the county assessor of the rate to be excluded for the current fiscal year no later than July 15.

(7)

Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a permanent rate plan excludes any rate derived from:

(a)

An urban renewal special levy under ORS 457.435 (Property tax collection methods for existing plans);

(b)

A local option tax, as defined in ORS 280.040 (Definitions for ORS 280.040 to 280.145);

(c)

A tax pledged to repay exempt bonded indebtedness, as defined in ORS 310.140 (Legislative findings), other than exempt bonded indebtedness used to fund local government pension and disability plan obligations that, until funded by the exempt bonded indebtedness, were described in Article XI, section 11 (5), of the Oregon Constitution; and

(d)

Except for plans that had been standard rate plans prior to September 29, 2019, the increase in the rate of ad valorem property taxes allowable under Article XI, section 11 (5)(d), of the Oregon Constitution, for a school district with a statutory rate limit on July 1, 2003, that is greater than $4.50 per $1,000 of assessed value, to the extent that the increase is excluded from local revenues, as that term is used in ORS chapter 327, and provided that the school district notifies the county assessor of the rate to be excluded for the current fiscal year no later than July 15. [2009 c.317 §2; 2013 c.579 §2; 2019 c.580 §8]

Source: Section 457.445 — Consolidated billing tax rate; impairment certificates; election to become reduced rate plan, https://www.­oregonlegislature.­gov/bills_laws/ors/ors457.­html.

457.010
Definitions
457.020
Declaration of necessity and purpose
457.025
Powers supplemental to other laws
457.035
Urban renewal agencies
457.045
Election of method of exercise of urban renewal agency’s powers
457.055
Transfer of urban renewal agency powers
457.065
Advisory board for housing authority acting as urban renewal agency
457.075
Termination of urban renewal agency
457.085
Urban renewal plan requirements
457.087
Report required to accompany proposed urban renewal plan
457.089
Urban renewal plan and report to planning commission and affected taxing districts for recommendations before approval by municipality
457.095
Approval of plan by ordinance
457.105
Approval of plan by other municipalities
457.115
Manner of newspaper notice
457.120
When additional notice required
457.125
Recording of plan upon approval
457.135
Conclusive presumption of plan validity
457.160
Exceptions to plan requirements for disaster areas
457.170
Urban renewal agency’s powers in planning or undertaking an urban renewal project
457.180
Powers of urban renewal agencies in general
457.190
Acquisition of funds by urban renewal agency
457.210
Applicability of housing cooperation law to urban renewal projects
457.220
Plan amendment
457.230
Disposition of land in urban renewal project
457.240
Tax status of land leased under a plan
457.320
Municipal assistance under plan
457.420
Plan may provide for division of property taxes
457.430
Certification of assessed value of property in urban renewal area
457.435
Property tax collection methods for existing plans
457.437
Consultation with municipalities
457.440
Computation of amounts to be raised from property taxes
457.445
Consolidated billing tax rate
457.450
Notice to tax assessor
457.455
Limiting collections
457.460
Agency financial statement required
457.470
Modification of assessed value
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