2017 ORS 308.674¹
Exemption equal to difference between real market value of company’s centrally assessable property and 130 percent of cost of company’s centrally assessable real and tangible personal property
  • limitations
  • exclusivity

(1) Subject to ORS 308.673 (Exemption grantable under ORS 308.674 or 308.677 but not both), the property of a company described in ORS 308.515 (Department to make annual assessment of designated utilities and companies) (1) shall be granted an exemption in the amount of the positive value, if any, obtained by subtracting from the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment, reduced by the amount of any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), an amount equal to the historical or original cost of the company’s real property and tangible personal property included in the unit subject to central assessment, without reduction for any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), multiplied by 130 percent.

(2) If the amount determined under subsection (1) of this section is not positive, subject to ORS 308.673 (Exemption grantable under ORS 308.674 or 308.677 but not both), the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment, reduced by the amount of any exemption elected under ORS 308.671 (Elective exemption of certain communication-related property), shall be the real market value of the company’s property for the property tax year.

(3) Notwithstanding subsection (1) of this section, an exemption granted under this section may not exceed an amount equal to 95 percent of the real market value of the company’s real property and tangible and intangible personal property included in the unit subject to central assessment.

(4)(a) If the property of a company is granted an exemption under this section for a property tax year, the property is not eligible for any other exemption from ad valorem property taxation for the property tax year.

(b) Notwithstanding paragraph (a) of this subsection:

(A) An exemption granted under ORS 308.671 (Elective exemption of certain communication-related property) to property that is granted an exemption under this section shall be allowed in the manner provided under this section and ORS 308.671 (Elective exemption of certain communication-related property).

(B) An exemption granted under this section for a property tax year has no effect on the benefits that the property of the company or the company may be granted under ORS chapter 285C or ORS 307.123 (Property of strategic investment program eligible projects) for the property tax year. [2015 c.23 §3]

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.