Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 308 - ASSESSMENT OF PROPERTY FOR TAXATION
Section 150-308-0510 - Definition of Destroyed or Damaged

Universal Citation: OR Admin Rules 150-308-0510
Current through Register Vol. 63, No. 9, September 1, 2024

"Destroyed or Damaged" means that the real or personal property is physically degraded by a qualifying fire or Act of God event. Property whose value is affected only by its proximity to another property physically degraded by a qualifying fire or Act of God event is not considered destroyed or damaged for purposes of proration of tax.

Example: A landslide caused by an Act of God occurs in a subdivision. Some properties in the subdivision are physically damaged or destroyed by the landslide. Other properties in the subdivision are not physically affected by the slide, but may have a degraded market value due to the market attaching a stigma to the subdivision. Only those properties in the subdivision, which were physically degraded by the slide, are "damaged or destroyed" and eligible for a proration of tax under ORS 308.425.

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 308.435

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