2017 ORS 307.866¹
Decertification of project
  • disqualification from exemption
  • additional taxes

(1)(a) During the period in which property of a vertical housing development project would otherwise be partially exempt under ORS 307.864 (Partial property tax exemption) (1)(a), if all or a portion of the project has been decertified under ORS 307.861 (Monitoring of certified projects), the property is disqualified from exemption in proportion to the equivalent of each equalized floor that has ceased qualifying as residential housing, as set forth in the notice of decertification.

(b) During the period in which the land of a vertical housing development project would otherwise be partially exempt under ORS 307.864 (Partial property tax exemption) (1)(b), if all or a portion of the project has been decertified under ORS 307.861 (Monitoring of certified projects), the land is disqualified from exemption in proportion to the equivalent number of equalized floors that have ceased qualifying as low income residential housing, as set forth in the notice of decertification.

(2) Notwithstanding ORS 307.864 (Partial property tax exemption), there shall be added to the general property tax roll for the tax year next following decertification described in subsection (1) of this section, to be collected and distributed in the same manner as other real property tax, an amount equal to the difference between the taxes assessed against the property and land granted exemption under ORS 307.864 (Partial property tax exemption) and the taxes that would have been assessed against the property and land but for the exemption for each of the years, not to exceed the last 10 years, during which the property and land were exempt from taxation under ORS 307.864 (Partial property tax exemption).

(3) Notwithstanding ORS 307.864 (Partial property tax exemption), if, after a period of exemption under ORS 307.864 (Partial property tax exemption) has terminated, the city or county that designated the zone in which the project is located discovers that the property or land of a vertical housing development project was granted exemption to which the project was not entitled, additional taxes may be collected as provided in subsection (2) of this section, except that the number of years for which the additional taxes may be collected shall be reduced by one year for each year that has elapsed since the year the property or land was last granted exemption, beginning with the earliest year for which additional taxes are due.

(4) The assessment and tax rolls shall show potential additional tax liability for all property and land granted exemption under ORS 307.864 (Partial property tax exemption).

(5) Additional taxes collected under this section shall be deemed to have been imposed in the year to which the additional taxes relate. [2013 c.193 §20; 2017 c.326 §9]

Chapter 307

Atty. Gen. Opinions

Validity of ad valorem and severance taxa­tion of logs destined for export, (1975) Vol 37, p 427; 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 307—Property Subject to Taxation; Exemptions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors307.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 307, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano307.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.