2017 ORS 308.153¹
New property and new improvements to property

(1) If new property is added to the assessment roll or improvements are made to property as of January 1 of the assessment year, the maximum assessed value of the property is the sum of:

(a) The maximum assessed value determined under ORS 308.146 (Determination of maximum assessed value and assessed value); and

(b) The product of the value of the new property or new improvements determined under subsection (2)(a) of this section multiplied by the ratio, not greater than 1.00, of the average maximum assessed value over the average real market value for the assessment year.

(2)(a) The value of new property or new improvements equals the real market value of the new property or new improvements reduced (but not below zero) by the real market value of retirements from the property tax account.

(b) If the maximum assessed value of property is adjusted for fire or act of God or for demolition or removal of a building under ORS 308.146 (Determination of maximum assessed value and assessed value), the reduction in real market value due to fire or act of God or demolition or removal of the building may not be considered to be a retirement under this subsection.

(3)(a) For purposes of this section, property shall be considered new property, or new improvements to property, for a tax year if the property:

(A) Constituted an integral part of the land or improvements on the assessment date or the date of a site inspection by the assessor for appraisal purposes for any prior tax year;

(B) Has been continuously in existence since the prior tax year; and

(C) Was not included in the assessment of the land or improvements for any prior tax year.

(b) The following is evidence that the property was not included in the assessment of the land or improvements for a prior tax year:

(A) There is no express reference to the property in the records of the assessor; and

(B) The assessor’s valuation of the land or improvements of which the property is an integral part increases as a result of inclusion of the property in the assessment.

(4) The property’s assessed value for the year equals the lesser of:

(a) The property’s maximum assessed value; or

(b) The property’s real market value. [1997 c.541 §11; 1999 c.1003 §4; 2001 c.509 §9; 2007 c.516 §2; 2015 c.97 §2; 2015 c.480 §2]

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/­ors308.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 308, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano308.­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.