2007 ORS 321.722¹
Valuation

(1) Small tract forestland shall have a specially assessed value per acre:

(a) Equal to 20 percent of the specially assessed value per acre determined under ORS 321.354 (Common ownership minimum acreage requirements), if located in western Oregon; or

(b) Equal to 20 percent of the specially assessed value per acre determined under ORS 321.833 (Common ownership minimum acreage requirements), if located in eastern Oregon.

(2) For each land class, the maximum assessed value per acre of small tract forestland shall equal 103 percent of the small tract forestland assessed value per acre for the preceding tax year or 100 percent of the small tract forestland maximum assessed value per acre for the preceding tax year, whichever is greater.

(3) The county assessor shall compute the assessed value of small tract forestland by multiplying the acreage of the small tract forestland in each land class by the lesser of:

(a) The specially assessed value per acre; or

(b) The maximum assessed value per acre.

(4) If the small tract forestland being assessed consists of different land classes, the assessed value of the small tract forestland shall be the sum of the assessed values computed for each land class under subsection (3) of this section. [2003 c.454 §7]

Note

Subject sec­tions all sub­se­quently repealed

Atty. Gen. Opinions

Effect of acquisi­tion or transfer of land upon classifica­tion, (1975) Vol 37, p 510; effect of reclassifica­tion of forest land, (1975) Vol 37, p 532; effect of 1 1/2 percent prop­erty tax limita­tion, (1984) Vol 44, p 85

Law Review Cita­tions

16 WLR 403 (1979)

Chapter 321

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

Validity of ad valorem and severance taxa­tion of logs destined for export, (1975) Vol 37, p 427

Law Review Cita­tions

16 WLR 397 (1979)

1 Legislative Counsel Committee, CHAPTER 321—Timber and Forestland Taxation, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­321.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 321, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­321ano.­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.