Chapter 31 Oregon Laws 2003

 

AN ACT

 

SB 224

 

Relating to taxation; amending ORS 308.590; and prescribing an effective date.

 

Be It Enacted by the People of the State of Oregon:

 

          SECTION 1. ORS 308.590 is amended to read:

          308.590. (1) The Director of the Department of Revenue shall:

          (a) Review, examine and correct the assessment roll made pursuant to ORS 308.515 on behalf of the Department of Revenue.

          (b) Increase or reduce the valuation of property therein assessed so that the valuation is the assessed value of the property.

          (c) Assess omitted taxable property by it assessable, in the manner provided in subsection (3) of this section.

          (d) Correct errors in apportionments of assessments therein.

          (e) Correct errors in the ratio of average maximum assessed value to average real market value calculated under ORS 308.153.

          (2) If it appears to the director that there is any real or personal property which, by law, the department is permitted to assess, which has been by it assessed twice, or incorrectly assessed as to description, quantity or quality, or assessed in the name of a person or company not the owner, lessee or occupant thereof, or assessed under or beyond the actual assessed value thereof, or which is not assessable by the department but which has been assessed by it, the director may make proper corrections of the roll.

          (3) If it appears to the director that any real or personal property which is assessable by the department has not been assessed upon the assessment roll, or on any assessment roll for a year not exceeding five years prior to the last roll certified, the director shall assess such property at the assessed value thereof.

          (4) The property assessable by the department within any county shall be apportioned by the department to such county at its assessed value or at the percentage thereof finally adopted under ORS 309.203.

 

          SECTION 2. This 2003 Act takes effect on the 91st day after the date on which the regular session of the Seventy-second Legislative Assembly adjourns sine die.

 

Approved by the Governor March 28, 2003

 

Filed in the office of Secretary of State April 1, 2003

 

Effective date November 26, 2003

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