Urban Renewal

ORS 457.455
Limiting collections

  • notification
  • consultation with taxing districts


(1)

If the maximum amount of funds under ORS 457.440 (Computation of amounts to be raised from property taxes) is not required to pay the principal and interest on indebtedness incurred for an urban renewal plan, the urban renewal agency may take formal action to limit collections under a plan for a single fiscal year, and may notify the county assessor pursuant to ORS 457.440 (Computation of amounts to be raised from property taxes) (2)(e) to compute the division of taxes for the urban renewal area using an assessed value that is equal to the amount specified by the agency. The assessor may not use an amount that is greater than the increment.

(2)

If the maximum amount of funds under ORS 457.440 (Computation of amounts to be raised from property taxes) is not required to pay the principal and interest on indebtedness incurred for an urban renewal plan, the urban renewal agency may limit future collections under a plan by notifying the county assessor to permanently increase the amount of the total assessed value included in the certified statement filed under ORS 457.430 (Certification of assessed value of property in urban renewal area). The assessed value included in the certified statement may not be subsequently decreased except in connection with boundary changes.

(3)

Before taking formal action under this section, the urban renewal agency shall consult and confer with each taxing district affected by the urban renewal plan. [2009 c.700 §7]
Chapter 457

Notes of Decisions

Provisions of this chapter creating urban renewal agencies, and provisions of Housing Authorities Law, ORS 456.055 to 456.235, are parallel statutory schemes, and thus identical provisions in the two acts will be given same effect. Housing Authority of Lane County v. Board of Commissioners, 35 Or App 785, 582 P2d 844 (1978), Sup Ct review denied

Atty. Gen. Opinions

Authority of urban renewal agency in selection of projects and delineation of project boundaries, (1977) Vol 38, p 1062


Source

Last accessed
Jun. 26, 2021