Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 307 - PROPERTY SUBJECT TO TAXATION
Section 150-307-0100 - Strategic Investment Program

Universal Citation: OR Admin Rules 150-307-0100

Current through Register Vol. 63, No. 9, September 1, 2024

(1) The county shall establish a separate tax account for project investments (for example A-1 account for buildings and M & E, and when applicable, a separate personal property account).

(2) Value not defined in the eligible project is taxable in addition to the trended base (assessable portion of the eligible project).

(3) The agreement between the company and the county governing body shall state that the company shall file with the Department of Revenue the information required by ORS 308.285-308.290 on the annual industrial property return as if the property were taxable.

(4) The Department of Revenue shall be responsible for the following:

(a) Accumulating the invested cost on the eligible project from data provided by the company on their industrial property return.

(b) Determining the RMV of buildings, machinery and personal property identified as part of the eligible project.

(c) Transmitting the above data to the counties.

(5) The county assessor shall be responsible for:

(a) Determining the trended base at three percent annually (for example $100 million the first year, $103 million the second year).

(b) Allocating the trended base of the eligible project per ORS 307.123(2)(a).

(c) Determining the exempt value.

(6) The county assessor and governing body shall be responsible for determining the amount of the community services fee and establishing procedures for the billing, collection and distribution of the community services fee. Enforcement of the contracts or other agreements shall be the sole responsibility of the parties to the contract.

(7) Examples:

NOTE: All numbers in the following examples are shown in millions.

Example 1: The eligible project is a $250 million investment on a previously undeveloped property.

Eligible investment(RMV) - $250

First $100 million of investment (taxable) - $100

Exempt value of the eligible investment - $150

Example 2: Eligible project includes a $500 million addition to an existing property with a $200 million value:

Eligible investment (RMV) - $500

First $100 million of investment (taxable) - $100

Exempt value of the eligible investment - $400

Taxable value ofthe eligible project - $100

RMV of existing property - + $200

0 Total taxable value of the property - $300

Statutory/Other Authority: ORS 305.100

Statutes/Other Implemented: ORS 307.123

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