Oregon Statutes 307.612 – Duration of exemption; inclusions and exclusions
(1)(a) Multiple-unit housing that qualifies for exemption under ORS § 307.600 to 307.637 may be exempt from ad valorem taxation for no more than 10 successive years.
Terms Used In Oregon Statutes 307.612
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- Contract: A legal written agreement that becomes binding when signed.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(b) The first year of exemption is the assessment year beginning January 1 immediately following the calendar year in which construction, addition or conversion is completed, determined by that stage in the construction process when:
(A) Pursuant to ORS § 307.330, the improvement would have gone on the tax rolls in the absence of the exemption provided for in ORS § 307.600 to 307.637; or
(B) In the case of multiple-unit housing that is or becomes subject to a low income housing assistance contract, the application is approved.
(2)(a) The exemption may not include the land or any improvements not a part of the multiple-unit housing.
(b) The exemption may include:
(A) Parking constructed as part of the multiple-unit housing construction, addition or conversion; and
(B) Commercial property to the extent that the commercial property is a required design or public benefit element of a multiple-unit housing construction, addition or conversion approved by an authorizing city or county.
(c) In the case of a structure to which stories or other improvements are added or a structure that is converted in whole or in part from other use to dwelling units, the entire multiple-unit housing, including the additions to the structure and converted structures, may be exempt from taxation.
(3) Notwithstanding subsection (1) of this section, if the multiple-unit housing is or becomes subject to a low income housing assistance contract with an agency or subdivision of this state or the United States, the city or county may extend the exemption provided by ORS § 307.600 to 307.637 through June 30 of the tax year during which the termination date of the contract falls.
(4)(a) The exemption provided by ORS § 307.600 to 307.637 is in addition to any other exemption provided by law. However, nothing in ORS § 307.600 to 307.637 may be construed to exempt any property beyond 100 percent of its real market value.
(b) If property is located within a core area and within a light rail station area or a transit oriented area, or both, and application for exemption under more than one program is made, only the exemption for which application is first made and approved may be granted.
(c) If property is granted exemption under ORS § 307.600 to 307.637 pursuant to an ordinance or resolution adopted by a city, the property may not be granted exemption pursuant to an ordinance or resolution adopted by a county.
(d) If property is granted exemption under ORS § 307.600 to 307.637 pursuant to an ordinance or resolution adopted by a county, the property may not be granted exemption pursuant to an ordinance or resolution adopted by a city.
(e) Property may be granted exemption under ORS § 307.600 to 307.637 only once. [Formerly 307.630; 2011 c.266 § 2; 2023 c.398 § 17]
Section 18, chapter 398, Oregon Laws 2023, provides:
The amendments to ORS § 307.612 by section 17 of this 2023 Act apply to exemptions under ORS § 307.600 to 307.637 first granted on or after the effective date of this 2023 Act [September 24, 2023]. [2023 c.398 § 18]