Certified specially assessed values
(1) On or before June 1 of each assessment year, the Department of Revenue shall adopt specially assessed values of forestland, as of the assessment date for that year. The department shall certify the specially assessed values of forestland in eastern Oregon to the county assessors of eastern Oregon and the specially assessed values of forestland in western Oregon to the county assessors of western Oregon.
(2) The certified specially assessed values constitute:
(a) The department’s determination of the real market value, as of the assessment date for the tax year, of highest and best use forestland in the land class for which the certification is being made; and
(b) The specially assessed values, as of the assessment date for the tax year, of designated forestland that is assessed under ORS 321.354 (Common ownership minimum acreage requirements) and 321.833 (Common ownership minimum acreage requirements) in the land class for which the certification is being made.
(3) Upon receipt of the certified values, the county assessors shall develop tables for each assessment year that reflect, for each class and area, the values determined under this section and that express the values as values per acre. [2001 c.860 §18]
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