Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 308 - ASSESSMENT OF PROPERTY FOR TAXATION
Section 150-308-1150 - Ratio Calculation for Open Space Lands
Universal Citation: OR Admin Rules 150-308-1150
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An open space ratio must be applied to the open space special assessed value of newly designated open space lands to determine a maximum specially assessed value. The Department of Revenue will annually calculate a statewide ratio for open space lands.
(a) Counties with 10 or more open space
accounts must develop and apply their own ratio.
(b) Counties having less than 10 open space
accounts must use the statewide ratio.
(2) The ratio is calculated by dividing:
(a) The total current year maximum specially
assessed value of land for all open space accounts (prior year's maximum
specially assessed value multiplied by 103 percent), by
(b) The total current year specially assessed
value of land for the same open space accounts.
(3) Only land that is specially assessed as open space may be used in the open space ratio calculation.
(4) Property that may not be used in developing the open space ratio calculation includes:
(a) Land that is valued under another special
assessment program;
(b) Land that
does not qualify for open space assessment;
(c) Any portion of an account that is
assessed at market value, such as buildings;
(d) New open space accounts; and
(e) Disqualified accounts.
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 308A.315
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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