Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 307 - PROPERTY SUBJECT TO TAXATION
Section 150-307-0240 - Exception To Taxable Personal Property
Universal Citation: OR Admin Rules 150-307-0240
Current through Register Vol. 63, No. 9, September 1, 2024
(1) Tangible personal property is assessed and taxed unless statutes specifically grant an exemption.
(2) "Use" of the property is the determining factor for granting an exemption.
(a)
Tangible personal property used exclusively for personal use and enjoyment by
the owner is granted exemption from property tax.
(b) Tangible personal property used in a
trade or business is taxable. A trade or business is an activity performed for
any form of compensation, personal reward or gain.
(c) Tangible personal property that is used
both for the owner's personal use and as part of a trade or business is
taxable.
Example: Household furnishings in a Bed and Breakfast or adult foster home are taxable when used by anyone other than the owner. Items used exclusively by the owner for personal enjoyment are exempt from property tax, such as the bed where the owner sleeps and the armoire or dresser that contains the owners clothes.
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 307.190
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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