justicedao/ipfs_state_laws huggingface dataset:
150-308-0110 Reduction of Maximum Assessed Value (MAV) for Property Destroyed or Damaged by Fire or Act of God (1) "Fire or act of God" has the same meaning and restrictions as used in ORS 308.425 including the arson restriction of ORS 308.440. (2) As used in ORS 308.146(5)(a), "reduction in real market value" means that the total real market value (RMV) after adjustment is less than it would otherwise have been, had the damage or destruction by fire or act of God not occurred. (3) When a portion of property is destroyed or damaged by fire or act of God, use the following procedure to adjust MAV for the year in which the destruction or damage is reflected by a reduction in RMV. Note: An example is incorporated into the steps with the following assumptions: 2008-09 MAV = $187,379 2008-09 (1-1-08) total RMV equals $300,000. 2008-09 assessed value (AV) = $187,379. 9-1-08 the house is destroyed by fire. The house RMV for 1-1-08 was $180,000. There is no market trending in this area. Step 1: Multiply the prior year AV by 1.03. Compare the result to the prior year MAV to determine the larger amount. The larger amount becomes the current year MAV (unadjusted) as if the account had not changed, i.e., the larger of: Prior year AV x 1.03 or prior year MAV = current year MAV of unchanged account. Example: Larger of: $187,379 x 1.03 = $193,000 or $187,379. Current year MAV = $193,000. Step 2: Determine the prior year’s RMV for the affected portion. The affected portion is that part of the property that was destroyed or damaged by fire or act of God. The RMV of the loss is the RMV of the affected portion. Example: RMV of affected portion equals $180,000. Step 3: Subtract the RMV of the affected portion (Step 2) from the prior year total RMV to determine the RMV of the unaffected portion, i.e., the prior year total RMV - RMV of the affected portion = RMV of the unaffected portion. Example: $300,000 - $180,000 = $120,000. Step 4: Divide the RMV of the unaffected portion (Step 3) by the total prior year RMV to determine the percentage of unaffected property, i.e., the RMV of the unaffected portion / total prior year RMV = percentage of unaffected property. Example: $120,000 / $300,000 = 40% Step 5: Multiply the unadjusted MAV (Step 1) by the percentage of unaffected property (Step 4) to determine MAV that has been adjusted to reflect the loss from fire or act of God (MAV attributable to the unaffected portion only), i.e., the unadjusted MAV x percentage of unaffected property = MAV adjusted to reflect the loss from fire or act of God. Example: $193,000 x 40% = $77,200. (5) As used in section (4), the "year" in which the RMV is reduced due to fire or act of God can be either: (a) The assessment year. (b) The tax year if RMV is determined as of July 1 under ORS 308.146(6) or 308.428. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.146 History: Renumbered from 150-308.146(5)(a), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 5-2009, f. & cert. ef. 7-31-09 REV 8-2000, f. & cert. ef. 8-3-00
150-308-0120 Reduction of Maximum Assessed Value (MAV) When a Building is Demolished or Removed (1) As used in ORS 308.146(8)(a), “reduction in real market value” means the total real market value (RMV) after adjustment is less than it would otherwise have been, had the demolition or removal not occurred. (2) As used in section (3) of this rule, the “year” in which the RMV is reduced due to demolition or removal is either: (a) The assessment year, or (b) The tax year, if RMV is determined as of July 1 under ORS 308.146(6). (3) When a building is demolished or removed, use the following procedure to adjust the maximum assessed value (MAV) for the year in which the demolition or removal is reflected by a reduction in RMV. Example: An example is incorporated into the steps with the following assumptions: 2007-08 MAV = $87,379 2007-08 (1-1-07) total RMV = $100,000. 2007-08 AV = $87,379. There is no market trending in this area. On September 1, 2007 the house is demolished. The RMV of the house for 1-1-07 was $75,000. Step 1: Perform the 103% test as if the property had not changed. Multiply the prior year assessed value (AV) by 1.03. Compare the result to the prior year MAV to determine the larger amount. The larger amount becomes the current year MAV (unadjusted) as if the account had not changed. Larger of: Prior year AV x 1.03 or prior year MAV = current year MAV of unchanged account. Outcome of step 1: Larger of: $87,379 x 1.03 = $90,000 or $87,379. Current year MAV = $90,000. Step 2: Determine the prior year RMV for the affected portion. The affected portion is the building or buildings that were demolished or removed. The RMV of the loss is the RMV of the affected portion. Outcome of step 2: RMV of affected portion = $75,000. Step 3: Determine the prior year RMV for the unaffected portion. Subtract the RMV of the affected portion (from Step 2) from the prior year total RMV to determine the RMV of the unaffected portion. Prior year total RMV – RMV of the affected portion = RMV of the unaffected portion. Outcome of step 3: $100,000 - $75,000 = $25,000. Step 4: Determine the percentage of the unaffected property. Divide the RMV of the unaffected portion (from Step 3) by the total prior year RMV to determine the percentage of the unaffected property. RMV of the unaffected portion / total prior year RMV = percentage of the unaffected property. Outcome of step 4: $25,000 / $100,000 = 25% Step 5: Determine the MAV that has been adjusted to reflect the loss. Multiply the unadjusted MAV (from Step 1) by the percentage of the unaffected property (from Step 4) to determine an MAV that has been adjusted to reflect the loss from demolition or removal (MAV attributable to the unaffected portion only). Unadjusted MAV x percentage of unaffected property = MAV adjusted to reflect the loss from demolition or removal. Outcome of step 5: $90,000 x 25% = $22,500. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.146 History: REV 32-2018, amend filed 12/31/2018, effective 01/01/2019 Renumbered from 150-308.146(8), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 7-2008, f. 8-29-08, cert. ef. 8-31-08
150-308-0130 Definitions (1) For purposes of ORS 308.149: (a) “New construction” means any new structure, building, addition or improvement to the land, including site development. (b) “Reconstruction” means to rebuild or replace an existing structure with one of comparable utility. (c) “Major addition” means an addition that: (i) has a real market value over the threshold for minor construction in any assessment year established under ORS 308.149; and (ii) adds square footage to an existing structure. (d) “Remodeling” means a type of renovation that changes the basic plan, form or style of the property. (e) “Renovation” means the process by which older structures or historic buildings are modernized, remodeled or restored. (f) “Rehabilitation” means to restore to a former condition without changing the basic plan, form or style of the structure. (2)(a) For purposes of ORS 308.149 “general ongoing maintenance and repair” means activity that: (A) Preserves the condition of existing improvements without significantly changing design or materials and achieves an average useful life that is typical of the type and quality so the property continues to perform and function efficiently; (B) Does not create new structures, additions to existing real property improvements or replacement of real or personal property machinery and equipment; (C) Does not affect a sufficient portion of the improvements to qualify as new construction, reconstruction, major additions, remodeling, renovation or rehabilitation; and (D) For income producing properties is part of a regularly scheduled maintenance program. (b) Regardless of cost, the value of general ongoing maintenance and repairs may not be included as additions for the calculation of maximum assessed value. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.149 History: REV 15-2023, minor correction filed 10/06/2023, effective 10/06/2023 Renumbered from 150-308.149-(A), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 13-1999, f. 12-30-99, cert. ef. 12-31-99 REV 11-1998, f. 12-29-98, cert. ef. 12-31-98 Renumbered from 150-308.149, REV 8-1998, f. 11-13-98, cert. ef. 12-31-98 RD 9-1997, f. & cert. ef. 12-31-97
150-308-0140 Computation of Changed Property Ratio for Centrally Assessed Property The ratio of average maximum assessed value to average real market value, also known as the changed property ratio, shall be rounded to two decimal places for purposes of assessed value calculation. See OAR 150-308-0570. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.149 History: Renumbered from 150-308.149(3), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 Renumbered from OAR 150-1997 Or. Law Ch. 541 Sect. 19, REV 8-1998, f. 11-13-98, cert. ef. 12-31-98 REV 9-1997, f. & cert. ef. 12-31-97
150-308-0160 Minor Construction (1) Definition: "Minor construction" is an improvement to real property that results in an addition to real market value (RMV), but does not qualify as an addition to maximum assessed value (MAV) due to a value threshold. The value threshold causing an addition to MAV for an improvement or improvements is an RMV increase of more than $18,200 in any one assessment year or more than $45,000 for all cumulative additions made over five assessment years, as adjusted upward based on any increase in the Consumer Price Index (CPI) as described in section (2) of this rule. (2) For each assessment year beginning on or after January 1, 2025, the department shall adjust the threshold dollar amounts in section (1) of this rule as follows: (a) Divide the average CPI for All Urban Consumers, West Region, for the prior calendar year by the average CPI for All Urban Consumers, West Region, for 2024. (b) Recompute the RMV thresholds under section (1) of this rule by multiplying $18,200 and $45,000 by any positive increase in the CPI determined under subsection (a) of this section. (3) Minor construction does not include general ongoing maintenance and repairs. (4) When testing the threshold for all cumulative additions made over five assessment years, use the cumulative RMV of all minor construction and major additions over a period not to exceed five consecutive assessment years. (a) Minor construction and major addition values are not market trended. (b) Values for retirements are not considered in the threshold test. (c) Values for minor construction items that are removed or destroyed prior to being an adjustment to MAV are subtracted from the minor construction cumulative RMV. (5) Once the threshold for all cumulative additions made over five assessment years is met, use the following steps to calculate the MAV adjustment: (a) Use minor construction values that are not market trended. (b) Make adjustments for any retirements from the prior assessment year. The net value of additions and retirements may not go below zero. (c) Apply the changed property ratio (CPR) from the year the cumulative RMV becomes an addition to MAV. (d) Reset the cumulative RMV for minor construction to zero and restart the five-year period. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.149 History: REV 5-2024, amend filed 01/31/2024, effective 02/01/2024 Renumbered from 150-308.149(6), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 7-2014, f. 12-23-14, cert. ef. 1-1-15 REV 8-2000, f. & cert. ef. 8-3-00 REV 8-1998, f. 11-13-98, cert. ef. 12-31-98
150-308-0170 Establishing a Changed Property Ratio (1) The assessor must establish a CPR for property classes 0 through 8 each assessment year. For determining the ratio of the average maximum assessed value over the average real market value, only the first digit of the property class needs to be recognized. These ratios must be rounded to three decimals. (a) Property classes may be combined to arrive at a ratio. The resulting ratio would become the CPR for each property class used to calculate the ratio. (b) For specially assessed properties, only the non-specially assessed portion of value will be used to determine a ratio. For specially assessed properties such as farm or timber, the assessor may use either of the following methods to arrive at a CPR: (A) The non-specially assessed portion of the unchanged 5-x-x or 6-x-x property classes may be used to create the CPR for those classes; or, (B) The 4-x-x property class values may be combined with the non-specially assessed values from the 5-x-x and/or 6-x-x property classes to calculate the ratio. The resulting ratio would become the CPR for each property class used to calculate the ratio. (2) Residential property class (1-x-x) includes all manufactured structures and floating homes not assigned to other property classes. (3) For locally and centrally assessed property, the value of the CPR may not be greater than 1.000. Statutory/Other Authority: ORS 305.100 & 308.156 Statutes/Other Implemented: ORS 308.156 History: Renumbered from 150-308.156, REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 1-2003, f. & cert. ef. 7-31-03 REV 13-1999, f. 12-30-99, cert. ef. 12-31-99
150-308-0180 Definition of Affected “Affected property” means property that is subject to one or more of the following events: partitioned or subdivided; added to the account as omitted property; rezoned and used consistent with the rezoning; disqualified from a special assessment, exemption, or partial exemption. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.156 History: Renumbered from 150-308.156(5), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 4-1998, f. & cert. ef. 6-30-98
150-308-0190 Subdivided and Partitioned Property MAV For purposes of calculating maximum assessed value when a property is subdivided or partitioned, the portion of the property that is “affected” includes: (1) The entire land that was subdivided or partitioned into smaller lots or parcels, if any. (2) The improvements if one or more of the following apply: (a) The act of subdividing or partitioning the land results in the apportionment of a single improvement (building or structure) to more than one tax lot. Example 1: A lot improved with a duplex is partitioned such that the duplex is split into two single-family residences. (b) The act of subdividing or partitioning the land changes the market’s perception of the value of the improvements. Example 2: A partition includes a vacant warehouse that was previously part of a large industrial complex. Prior to the partition, the market perceived the warehouse as unnecessary to the industrial complex and of little or no value. After the partition, the warehouse is a stand-alone improvement no longer associated with the industrial complex. The market now perceives the warehouse as a property that can be used for many different purposes with considerable value. By contrast, there is no change in market perception regarding the remaining improvements in the industrial complex. (c) The improvements are divided into separate units of property. Example 3: The legal subdivision of an apartment building into condominium units. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.156 History: Renumbered from 150-308.156(5)-(A), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 2-2002, f. 6-26-02, cert. ef. 6-30-02 REV 6-2001, f. & cert. ef. 12-31-01 REV 4-1998, f. & cert. ef. 6-30-98
150-308-0210 Omitted Property—Allocating Maximum Assessed Value (MAV) (1) When omitted property is added to the property tax account after January 1 preceding the current assessment year and before January 1 of the current assessment year, only the omitted property portion is considered affected. The existing property is the unaffected portion. The intent is to correct the tax roll for current and prior years as if the omitted property had been a regular part of those tax rolls. (2) To correct the first year’s Assessed Value (AV) when the omitted property is added to the roll : (a) Multiply the real market value (RMV) of the omitted property for the first year it should have been added to the roll by that year’s appropriate changed property ratio (CPR) to determine MAV for the omitted property. (b) Add the RMV and MAV of the omitted portion to the existing RMV and MAV to get a corrected RMV and MAV for the account. (c) The lesser of the corrected RMV or MAV is the AV that should have been on the roll had the property been discovered timely. EXAMPLE 1: Property was built in 2003 and should have been added to the 2004-05 tax roll. The assessor discovers the property in December 2004 and adds it to the 2004-05 tax roll. [Table not included. See ED. NOTE.] (3) To correct the AV for subsequent years that omitted property should be added to the roll: (a) Add the omitted property’s trended or recalculated RMV to the property’s existing RMV to get a corrected RMV for the account. (b) Multiply the prior year’s corrected AV by 1.03 and compare to the prior year’s corrected MAV. The greater of the two will be the corrected MAV for the account. (c) The lesser of the corrected RMV or MAV is the account’s AV. EXAMPLE 2: Property was built in 2003 and should have been added to the 2004-05 tax roll. The assessor discovers the property in December 2008, and adds it to the 2004-05 through 2008-09 tax rolls. RMV trending is 5 percent per year. [Table not included. See ED. NOTE.] [ED. NOTE: Tables referenced are available from the agency.] [ED. NOTE: To view attachments referenced in rule text, click here to view rule.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.156 History: Renumbered from 150-308.156(5)-(C), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 5-2009, f. & cert. ef. 7-31-09 REV 4-1998, f. & cert. ef. 6-30-98
150-308-0220 Exemption, Partial Exemption or Special Assessment Disqualification — Allocating MAV When an exempt, partially exempt or specially assessed property is disqualified after January 1 of the assessment year preceding the current assessment year and before January 1 of the current assessment year, a new MAV for the account must be calculated. The new MAV total will be the MAV of any unchanged portion and the new MAV of any disqualified portion. The new MAV of the disqualified portion is the RMV multiplied by the appropriate changed property ratio. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.156 History: REV 32-2018, amend filed 12/31/2018, effective 01/01/2019 Renumbered from 150-308.156(5)-(D), REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 Renumbered from 150-308.010, REV 58-2016, f. 8-13-16, cert. ef. 9-1-16 REV 4-1998, f. & cert. ef. 6-30-98
150-308-0290 Effective Tax Rate (1) Definitions for this rule: (a) “Changed property ratio” (CPR) is the ratio, not greater than 1.00, of the average maximum assessed value over the average real market value for the assessment year in the same area and property class. (b) “Nominal tax rate” is the tentative consolidated ad valorem property tax rate by code area described in ORS 310.147(2). When applicable, the nominal tax rate can be adjusted to reflect a reduction of tax to meet the limitations identified under Section 11b, Article XI of the Oregon Constitution (c) “Effective tax rate” for any given property is the nominal tax rate, as described in subsection (1)(b), multiplied by the appropriate CPR, described in subsection (1)(a). (2) The effective tax rate can be determined by the following methodology: (a) Select the nominal tax rate known on the assessment date. For example, the assessment date of January 1, 2008 requires the nominal tax rate calculated for the prior tax year, 2007–08. (b) Multiply the nominal rate by the CPR applicable to the assessment date, considering the subject property classification and location. The result is the effective tax rate. Example 1: An apartment complex is being valued for assessment purposes, in an area with a changed property ratio of 65% or 0.65 and a nominal tax rate of $19.8615 per thousand of assessed value (1.98615%) or .0198615; the effective tax rate is calculated as follows: Changed Property Ratio (CPR) x Nominal Tax Rate (NTR) = Effective Tax Rate (ETR) 0.65 (CPR) x .0198615 (NTR) = 0.01291 (ETR) or 1.3% Statutory/Other Authority: ORS 305.100, 308.205 & 308.724 Statutes/Other Implemented: ORS 308.205 History: Renumbered from 150-308.205-(G), REV 57-2016, f. 8-13-16, cert. ef. 9-1-16 REV 7-2008, f. 8-29-08, cert. ef. 8-31-08
150-308-0300 Valuation Review of State-appraised Industrial Property. (1) The department may conduct valuation reviews of state-appraised industrial properties to verify the accuracy of the property's real market value and maximum assessed value. (2) Valuation reviews will follow procedures adopted by the Department of Revenue. (3) The real market value and maximum assessed value of a property may change for the current year and previous years following the requirements in ORS 311.205 and 311.216, as a result of the valuation review. (4) The real market value and maximum assessed value of a property may change for subsequent tax years if the result of the valuation review is a change in valuation judgment. (5) This rule is effective January 1, 2016. Statutory/Other Authority: ORS 305.100 & 308.205 Statutes/Other Implemented: ORS 308.205 History: Renumbered from 150-308.205-(H), REV 57-2016, f. 8-13-16, cert. ef. 9-1-16 Renumbered from 150-308.205(2), REV 4-2015, f. 12-23-15, cert. ef. 1-1-16 REV 12-1998, f. 12-29-98, cert. ef. 12-31-98 REV 9-1998, f. 12-11-98, cert. ef. 12-31-98
150-308-0320 Property With Multiple Leases Assessed as One Parcel Properties with multiple leases must be assessed as one parcel except those properties covered by 307.110(2). The statutes have no provisions for assessing multiple leaseholds of undivided parcels of real property as separate tax accounts. It is not the assessor’s responsibility to divide the assessed values and tax amounts for each leasehold for the owner. The accounts shall be set up as one account and the appraisal card(s) shall reflect the value of the entire parcel. Only buildings, machinery and equipment or fixtures owned separately from other associated property shall be separately assessed. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.215 History: Renumbered from 150-308.215(1)-(B), REV 57-2016, f. 8-13-16, cert. ef. 9-1-16 RD 6-1994, f. 12-15-94, cert. ef. 12-30-94
150-308-0330 Contents of Assessment Roll for Condominiums For purposes of the assessment roll for condominiums, the land, buildings, structures and improvements are to be considered together as a single value for the real market value. Where appropriate, the land, buildings, structures and improvements are to be considered together as a single value for the assessed value. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 308.215 History: Renumbered from 150-308.215(1)(g), REV 57-2016, f. 8-13-16, cert. ef. 9-1-16 RD 8-1992, f. 12-29-92, cert. ef. 12-31-92