Oregon Administrative Rules › Chapter 150 - DEPARTMENT OF REVENUE › Division 309 - EQUALIZATION OF PROPERTY TAXES › Section 150-309-0230 - Assessor's Ratio Study for Tax Purposes: Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Appraisal area is an area in a county
			 generally composed of one or more school districts, a city or other political
			 subdivision, or any other logical division established by the county assessor
			 for conducting an orderly reappraisal of taxable property as required by ORS
			 308.234.
(2) A market area is a
			 group of properties that generally shares important characteristics that
			 influence value. Each market area should contain a sufficient number of
			 accounts to ensure an adequate sale sample for analysis.
(3) Appraisal ratio is the percentage
			 relationship between the real market value for the prior year and an estimate
			 of the current year's real market value made by a qualified appraiser for a
			 particular property.
(4) Appraisal
			 ratio study is a statistical compilation of appraisal ratios for a
			 representative group of properties in the county randomly selected on a
			 property class basis to produce an indication of the ratio of the prior year's
			 real market value to the current year's real market value for all taxable
			 properties in a particular class of property within the county, in a particular
			 class of property within an appraisal area, or in a particular class of
			 property within a market area.
(5)
			 Assessor's ratio study is required to be filed with the clerk of the property
			 value appeals board.
(6) Class is a
			 classification of property described in OAR 150-308-0310.
(7) Current assessment roll is the roll being
			 prepared for the tax year beginning July 1, of the current calendar
			 year.
(8) Current real market value
			 is the property's real market value, or for specially assessed properties the
			 statutory value, as of the January 1, assessment date for which the roll is
			 being prepared.
(9) New
			 construction is a new structure or structures added to the current assessment
			 roll or value added by completion of construction, remodeling, renovation or
			 other physical improvement of existing property.
(10) Properties added to the roll are any
			 properties on the current assessment roll which were not assessed on the prior
			 year's roll. They include value added by changed status of specially assessed
			 properties and value added through partitioning or subdividing
			 properties.
(11) Qualified
			 appraiser is an appraiser registered pursuant to ORS 308.010 or who is licensed
			 or certified under 674.310.
(12)
			 Ratio study is a study which estimates:
(a)
			 The percentage relationship between the total prior year's real market value of
			 each class of taxable property on the prior assessment roll and the total
			 current real market value of the same properties in each class on the current
			 assessment roll; and
(b) The
			 percentage relationship between the total prior year's real market value of
			 each class of taxable property on the prior assessment roll and the total
			 current real market value of the same properties in each class on the current
			 assessment roll within each appraisal area, or market area.