71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 1228
House Bill 2204
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
Presession filed (at the request of Governor John A. Kitzhaber,
M.D., for Department of Revenue)
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Restates assessed value provisions governing historic property
special assessment to conform with constitutional tax limitation.
Applies to tax years beginning on or after July 1, 2002.
A BILL FOR AN ACT
Relating to taxation; creating new provisions; amending ORS
358.505 and 358.540; and repealing ORS 358.507.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 358.505 is amended to read:
358.505. (1)(a) The county assessor shall, for the 15
consecutive { - assessment - } { + tax + } years elected
under ORS { - 358.485 or 358.487, whichever is applicable, - }
{ + 358.475 to 358.545, list on the assessment and tax roll a
specially assessed + } value { + for + } property classified as
historic property { - at - } { + that equals + }the assessed
value of the property at the time application for classification
was made.
(b) If a reapplication for classification and special
assessment filed pursuant to ORS 358.540 (3) is approved under
ORS 358.490, the county assessor shall, for 15 consecutive
{ - assessment - } { + tax + } years after the date of the
filing of the reapplication, { + list on the assessment and tax
roll a specially assessed + } value { + for + } the property
that was the subject of the reapplication { - at the assessed
value of the property, without any adjustment to value made under
ORS 358.475 to 358.545, at the time reapplication under ORS
358.540 (3) was made - } { + that equals the product of the
real market value of the property for the assessment year in
which the reapplication is made multiplied by the ratio of the
average maximum assessed value over the average real market value
for the assessment year of property not subject to special
assessment in the same area and property class + }.
{ + (2)(a) For the first tax year of a 15-year period of
historic property assessment, notwithstanding ORS 308.149 (2),
the maximum assessed value of property subject to historic
property assessment shall equal the specially assessed value of
the property under subsection (1) of this section multiplied by
the ratio, not greater than 1.00, of the maximum assessed value
the property would have had if the property were not specially
assessed over the real market value of the property.
(b) For each tax year after the first tax year in which the
property is subject to special assessment as historic property
and before the conclusion of the 15-year period of historic
property assessment, the property's maximum assessed value
subject to special assessment shall equal 103 percent of the
property's assessed value from the prior year or 100 percent of
the property's maximum assessed value subject to special
assessment from the prior year, whichever is greater.
(3) The assessed value of property that is classified as
historic property for the tax year shall equal the lesser of:
(a) The property's specially assessed value as determined under
subsection (1) of this section; or
(b) The property's maximum assessed value as determined under
subsection (2) of this section. + }
{ - (2) - } { + (4) + } Except as provided under ORS
358.487 (2), the entitlement of property to the special
assessment provisions of this section shall be determined as of
July 1. If the property becomes disqualified on or after July 1,
its assessment for that { + tax + } year shall continue as
provided in this section.
{ - (3) - } { + (5) + } Assessed value, as defined and
determined under ORS 308.146 and 308.205, shall be determined for
property classified as historic property by the county assessor
each year. The assessed value so determined for any year shall be
subject to appeal to the county board of property tax appeals
within the time and in the manner provided in ORS chapter 309 and
shall be subject to appeal thereafter to the Oregon Tax Court and
to the Oregon Supreme Court within the time and in the manner
provided for appeals of value determination for purposes of ad
valorem property taxation.
{ - (4) - } { + (6) + } The Department of Revenue, in
consultation with the State Historic Preservation Officer, shall
adopt rules within its area of expertise that are necessary to
the implementation of ORS 358.475 to 358.545.
SECTION 2. ORS 358.540 is amended to read:
358.540. (1) Property classified as historic property pursuant
to application filed under ORS 358.485 or 358.487 shall be
entitled to any other exemption or special assessment provided by
law.
(2) Property that has received special assessment pursuant to
application filed under ORS 358.485 or 358.487 for 15 years { + ,
at the completion of the 15-year term, shall be disqualified from
historic property assessment and + } is not again eligible for
special assessment under ORS 358.475 to 358.545.
(3)(a) Notwithstanding subsection (2) of this section, { +
following completion of the initial 15-year period of historic
property classification and disqualification under subsection (2)
of this section, the owner of + } commercial property classified
as historic property pursuant to application filed under ORS
358.485 or 358.487 may reapply under ORS 358.487 for one
additional 15-year period of special assessment under ORS 358.475
to 358.545 { + for that commercial property + }. { + Following
the completion of the second 15-year term of special assessment,
the historic commercial property shall be disqualified from
historic property assessment and is not again eligible for
special assessment under ORS 358.475 to 358.545. + }
(b) A reapplication filed under this subsection, in addition to
containing all of the information required of an application
filed under ORS 358.487, shall be accompanied by a renovation
plan detailing measures to be taken for purposes of Americans
with Disabilities Act compliance, seismic improvement measures or
energy conservation measures, the costs associated with the
measures and a schedule of the dates on which work on the
measures will be begun and completed.
(c) A reapplication filed under this subsection that in other
respects is in compliance with the application requirements of
ORS 358.487 may be approved only upon a finding by the State
Historic Preservation Officer that the renovation plan submitted
with the reapplication will, if implemented, result in a
significant investment in the historic property that promotes
compliance with Americans with Disabilities Act requirements or
that results in seismic improvements or energy conservation
improvements to the property. If approved, the renovation plan
shall be considered an amendment to and part of the preservation
plan filed with the reapplication and in effect for the property.
(d) The State Historic Preservation Officer may adopt rules
under this subsection, including rules that provide:
(A) The minimum amount of investment that must be made in order
for the investment to be considered a significant investment.
(B) The minimum amount of seismic improvement to the property
that must be contemplated in the renovation plan in order for the
plan to be approved.
(C) The minimum level of energy conservation improvements that
must be contemplated in the renovation plan in order for the plan
to be approved.
(D) The maximum amount of time between the date of filing of
the reapplication and the date of completion of the measures
described in the renovation plan in order for the renovation plan
to be approved.
SECTION 3. { + The amendments to ORS 358.505 and 358.540 by
sections 1 and 2 of this 2001 Act apply to tax years beginning on
or after July 1, 2002. + }
SECTION 4. { + ORS 358.507 is repealed on July 1, 2002. + }
SECTION 5. { + The repeal of ORS 358.507 by section 4 of this
2001 Act does not alter the assessment of property classified as
historic property under ORS 358.475 to 358.545 for a tax year
beginning before July 1, 2002. + }
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