Property to be valued at 100 percent real market value and assessed at assessed value
Source:
Section 308.232 — Property to be valued at 100 percent real market value and assessed at assessed value, https://www.oregonlegislature.gov/bills_laws/ors/ors308.html
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Notes of Decisions
The water system in a planned unit development was properly assessed by the Department of Revenue as having value for which taxes should have been assessed. Brooks Resources v. Dept. of Rev., 276 Or 1177, 558 P2d 312 (1976)
In assessing value of newly constructed medical building, which was not a unique situation but rather a well defined market with predictable income, income approach was more reliable than cost approach. Medical Bldg. Land Co. v. Dept. of Rev., 7 OTR 119 (1977)
Determining real market value of property requires that expense, time, risk, inconvenience and other problems in obtaining government authorization to develop property be considered. Cox v. Dept. of Rev., 12 OTR 535 (1993)
Where highest and best use of parcel is as part of joint development with adjoining parcels under common ownership, parcels may be valued as single economic unit. White v. Washington County Assessor, 17 OTR 45 (2003)