Or. Admin. Code § 150-308-0730

Current through Register Vol. 63, No. 12, December 1, 2024

Section 150-308-0730 - Special Assessment Disqualification Process

(1) The assessor must disqualify property from special assessment as government restricted multiunit rental housing if:

(a) The property is no longer multiunit rental housing subject to a government restriction on use; or

(b) An event described in ORS 308.146(3)(b) or (c) occurs with respect to the multiunit rental housing; or

(c) The owner requests disqualification.

(2) The property owner must notify the county assessor, in writing, within 60 days of a disqualifying event.

(3) Property disqualified from special assessment must be valued by ordinary appraisal methods in the tax year immediately following the disqualifying event.

(4) For any tax year following the tax year of disqualification, a property owner may reapply to the county assessor for special assessment if:

(a) The multiunit rental housing property again becomes subject to a government restriction on use; or

(b) An event described in ORS 308.146(3)(b) or (c) caused the disqualification.

(c) The property was voluntarily disqualified from special assessment and the owner is filing a new application under the conditions described in the voluntary disqualification rule.

(5) The following penalties apply if the property owner fails to notify the assessor within 60 days of the disqualifying event:

(a) If the property is disqualified because the multiunit rental housing is no longer subject to a government restriction on use, the penalty is the difference between the taxes imposed and those that would have been imposed had the property not been specially assessed, plus any applicable interest.

(b) If the property is disqualified because new property is constructed or new improvements are made to the qualified property, no penalty will be charged. The new property or improvements will be assessed as omitted property.

(c) If the property is disqualified because of an event described in ORS 308.146(3)(b) or (c), the penalty is the difference between the taxes imposed and those that would have been imposed had the property not been specially assessed, plus any applicable interest.

(d) If the property is disqualified at the owner's request and none of the disqualifying events in (1)(a) or (1)(b) exist, there is no penalty.

Or. Admin. Code § 150-308-0730

REV 6-2001, f. & cert. ef. 12-31-01; Renumbered from 150-308.714-(A), REV 59-2016, f. 8-13-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 205.320, 308.027, 308.156, 308.205, 308.234, 308.704, 308.709, 308.712, 308.714, 309.200, 311.806, 309.200 & 457.450