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]

Source: Section 457.455 — Limiting collections; notification; consultation with taxing districts, https://www.­oregonlegislature.­gov/bills_laws/ors/ors457.­html.

457.010
Definitions
457.020
Declaration of necessity and purpose
457.025
Powers supplemental to other laws
457.035
Urban renewal agencies
457.045
Election of method of exercise of urban renewal agency’s powers
457.055
Transfer of urban renewal agency powers
457.065
Advisory board for housing authority acting as urban renewal agency
457.075
Termination of urban renewal agency
457.085
Urban renewal plan requirements
457.087
Report required to accompany proposed urban renewal plan
457.089
Urban renewal plan and report to planning commission and affected taxing districts for recommendations before approval by municipality
457.095
Approval of plan by ordinance
457.105
Approval of plan by other municipalities
457.115
Manner of newspaper notice
457.120
When additional notice required
457.125
Recording of plan upon approval
457.135
Conclusive presumption of plan validity
457.160
Exceptions to plan requirements for disaster areas
457.170
Urban renewal agency’s powers in planning or undertaking an urban renewal project
457.180
Powers of urban renewal agencies in general
457.190
Acquisition of funds by urban renewal agency
457.210
Applicability of housing cooperation law to urban renewal projects
457.220
Plan amendment
457.230
Disposition of land in urban renewal project
457.240
Tax status of land leased under a plan
457.320
Municipal assistance under plan
457.420
Plan may provide for division of property taxes
457.430
Certification of assessed value of property in urban renewal area
457.435
Property tax collection methods for existing plans
457.437
Consultation with municipalities
457.440
Computation of amounts to be raised from property taxes
457.445
Consolidated billing tax rate
457.450
Notice to tax assessor
457.455
Limiting collections
457.460
Agency financial statement required
457.470
Modification of assessed value
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