2011 ORS § 308.232¹
Property to be valued at 100 percent real market value and assessed at assessed value

All real or personal property within each county not exempt from ad valorem property taxation or subject to special assessment shall be valued at 100 percent of its real market value. Unless the property is subject to maximum assessed value adjustment under ORS 308.149 (Definitions for ORS 308.149 to 308.166) to 308.166 (Ordering provisions when property is subject to multiple special determinations of value), the property shall be assessed at the propertys assessed value determined under ORS 308.146 (Determination of maximum assessed value and assessed value). [1953 c.701 §2; 1959 c.519 §1; 1961 c.243 §1; 1967 c.293 §6; 1979 c.241 §33; 1981 c.804 §39; 1985 c.613 §8; 1991 c.459 §97; 1997 c.541 §159]