2013 ORS § 358.540¹
Requirements for second term of historic property special assessment

(1) Property classified as historic property under ORS 358.487 (Application for classification and special assessment as historic property) to 358.543 (Assessment of new construction and additions) is entitled to any other exemption or special assessment provided by law.

(2) Property that has been certified for special assessment under ORS 358.490 (Review and approval of application) and received special assessment under ORS 358.505 (Determination of specially assessed value, maximum assessed value and assessed value of historic property) for 10 years, at the completion of the 10-year term, is disqualified from historic property special assessment.

(3)(a) Notwithstanding subsection (2) of this section, following completion of the initial 10-year period of historic property classification and disqualification under subsection (2) of this section, the owner of property classified as historic property may reapply under ORS 358.487 (Application for classification and special assessment as historic property) for one additional 10-year period of special assessment under ORS 358.487 (Application for classification and special assessment as historic property) to 358.543 (Assessment of new construction and additions).

(b) Following completion of the second 10-year term of special assessment, the historic property is disqualified from historic property special assessment and is not again eligible for special assessment under ORS 358.487 (Application for classification and special assessment as historic property) to 358.543 (Assessment of new construction and additions).

(4) An application filed under subsection (3) of this section must be filed in the manner provided under ORS 358.487 (Application for classification and special assessment as historic property) and be accompanied by a preservation plan detailing:

(a) Improvements to the historic property that:

(A) Promote compliance with the Americans with Disabilities Act;

(B) Will result in seismic improvement; or

(C) Will result in improvements in energy conservation or sustainability;

(b) The costs associated with the improvements, which costs are in an amount not less than 10 percent of the historic propertys real market value determined as of the date of the application filed under subsection (3) of this section; and

(c) A schedule of the dates on which work on the improvements will be begun and completed.

(5)(a) An application filed under subsection (3) of this section may be approved only upon a finding by the State Historic Preservation Officer that the preservation plan submitted with the application pursuant to subsection (4) of this section will, if implemented, result in a significant investment in the historic property that promotes compliance with Americans with Disabilities Act or that results in seismic improvements or improvements in energy conservation or sustainability to the property.

(b) For residential property, an application filed under subsection (3) of this section that is otherwise in compliance with the application requirements may be approved only if a second term of historic property classification and special assessment is not prohibited under ORS 358.541 (City or county prohibition of second term).

(6) An application for a second 10-year period of special assessment as historical property shall be certified in accordance with ORS 358.490 (Review and approval of application).

(7) A determination under ORS 358.490 (Review and approval of application) with respect to an application for a second 10-year period of special assessment as historical property is subject to the notice, certification and filing requirements and review rights described in ORS 358.495 (Notice of approval or disapproval).

(8) The owner of property certified for a second 10-year period of special assessment under this section is subject to the reporting requirements under ORS 358.500 (Reporting requirement).

(9) Property certified for a second 10-year period of special assessment under this section is subject to penalties upon disqualification as provided by ORS 358.525 (Imposition of additional taxes upon disqualification). [1975 c.514 §10; 1983 c.720 §10; 1995 c.5 §14; 1995 c.693 §11; 2001 c.540 §15; 2005 c.549 §1; 2007 c.718 §2; 2009 c.892 §11]

Note: See note under 358.487 (Application for classification and special assessment as historic property).

Note: Section 33, chapter 579, Oregon Laws 1999, provides:

Sec. 33. (1) The owner of a property receiving special assessment under ORS 358.475 (Policy) to 358.545 (Rules) (1999 Edition) who purchased the property within the five-year period immediately prior to the effective date of this 1999 Act [October 23, 1999] may file a reapplication under ORS 358.540 (Requirements for second term of historic property special assessment) within one year following the effective date of this 1999 Act for classification and special assessment of the property as historic property for an additional 15-year period under ORS 358.540 (Requirements for second term of historic property special assessment).

(2) Notwithstanding ORS 358.505 (Determination of specially assessed value, maximum assessed value and assessed value of historic property) and 358.507 (1999 Edition), following approval of the reapplication by the State Historic Preservation Officer, the property shall be assessed for the additional 15-year period of historic property classification at the assessed value of the property at the time the property was purchased, as determined under ORS 358.475 (Policy) to 358.545 (Rules) (1995 Edition).

(3) Notwithstanding subsection (2) of this section, for any tax year within the additional 15-year period, property shall be assessed at a lesser value than the assessed value determined under subsection (2) of this section if the lesser value is required pursuant to section 11, Article XI of the Oregon Constitution. [1999 c.579 §33]