Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 309 - EQUALIZATION OF PROPERTY TAXES
Section 150-309-0190 - Adjudicated Value Calculation for Centrally Assessed Property
Universal Citation: OR Admin Rules 150-309-0190
Current through Register Vol. 63, No. 9, September 1, 2024
Properties assessed under ORS 308.505 to 308.660 (centrally assessed property), which have adjudicated values, must be adjusted during the subsequent five year period to reflect changes in value due to additions, retirements, and economic trends.
(1) Because of the complex interactions of the numerous variables involved in the unitary appraisal of centrally assessed properties, the adjustment due to additions, retirements, and economic trends will be determined in the following manner:
(a) An appraisal of the property will
be made by the department for the year for which the adjudicated value was
established and for each of the subsequent years, following the methods and
procedures used to develop the adjudicated value at the trial or hearing where
the adjudicated value was determined.
(b) If no method or procedure was developed
in reaching the adjudicated value, the methodology used should be consistent
with that used for all similar properties. The value determined by the
department's appraisal for the current assessment year will be divided by the
value determined by the department's appraisal (not adjudicated value) for the
assessment year immediately prior. This ratio will be applied to the
"adjudicated" value of the prior assessment year to develop the "adjudicated"
value for the current year's assessment.
(2)
(a) If
no method or procedure was developed in reaching the adjudicated value, an
alternate procedure will be used for closely regulated public utility
properties. The properties to which this alternate procedure applies must meet
both the following conditions:
(A) The
property must be used to provide or distribute electricity, natural gas, or
local telephone exchange service to the public; and
(B) Rates charged and revenues received by
the property owners are regulated by an Oregon regulatory agency based on
depreciated historical cost.
(b) The alternate procedure for determining
the current year adjudicated value for the properties described in (a) is as
follows:
(A) The book value of the unit of
property, both within and outside Oregon, will be determined by the department
for the year in which the adjudicated value was established and for each of the
subsequent years.
(B) The book
value for the current year will be divided by the book value for the prior
year.
(C) The ratio determined
above will be multiplied by the prior year adjudicated value (system basis) to
develop the current year adjudicated value (system basis).
(D) The current year adjudicated value
(system basis) will be allocated to Oregon using the department's allocation
methods used for similar properties.
(E) Adjustments will be made to the allocated
value by adding taxable property not included in the system value or by
subtracting noncentrally assessable property included in the system value.
Adjustments must be made at the same percentage of book value as found for the
current year adjudicated value (system basis).
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 309.115
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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