2007 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 property’s 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]

Notes of Decisions

The purpose of ORS 308.345 to 308.395 is to defeat the effect on bona fide farmer of increased assess­ments growing out of highest and best use require­ment. Hulburt v. Dept. of Rev., 4 OTR 475 (1971)

The wa­ter system in a planned unit develop­ment was properly assessed by the Depart­ment of Revenue as having value for which taxes should have been assessed. Brooks Resources v. Dept. of Rev., 276 Or 1177, 558 P2d 312 (1976)

In assessing value of newly constructed medical building, which was not a unique situa­tion but rather a well defined market with predictable income, income approach was more reliable than cost approach. Medical Bldg. Land Co. v. Dept. of Rev., 7 OTR 119 (1977)

Determining real market value of prop­erty requires that expense, time, risk, inconvenience and other problems in obtaining govern­ment authoriza­tion to develop prop­erty be considered. Cox v. Dept. of Rev., 12 OTR 535 (1993)

Where highest and best use of parcel is as part of joint develop­ment with adjoining parcels under common ownership, parcels may be valued as single economic unit. White v. Washington County Assessor, 17 OTR 45 (2003)

Chapter 308

Notes of Decisions

Programs administered by Depart­ment of Revenue that allow preferential assess­ment for farm and forestland are not "programs affecting land use" and are not subject to require­ment of statewide goal and local comprehensive plan compliance under ORS 197.180 (State agency planning responsibilities). Springer v. LCDC, 111 Or App 262, 826 P2d 54 (1992), Sup Ct review denied

Atty. Gen. Opinions

Applica­tion of Article XI, sec­tion 11b of Oregon Constitu­tion to this chapter, (1990) Vol 46, p 388

Law Review Cita­tions

5 EL 516 (1975)

1 Legislative Counsel Committee, CHAPTER 308—Assessment of Property for Taxation, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­308.­html (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 308, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­308ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.