Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 311 - COLLECTION OF PROPERTY TAXES
Section 150-311-0210 - Property Subject to Assessment as Omitted Property
Current through Register Vol. 63, No. 9, September 1, 2024
(1) Omitted property includes any real or personal property, or part thereof, that has been omitted from the certified assessment and tax roll for any reason. Omitted property may include, but is not limited to, a separate freestanding structure or improvement, an addition that increases the square footage of a structure or improvement, a remodel which increases a structure's real market value, or real or personal property machinery and equipment.
(2) Property may be added to the roll under ORS 311.216 if:
(3) Improvements which are in existence and are an integral part of property which is physically appraised may not later be revalued and added as omitted property under ORS 311.216. Undervaluation of a property due to the assessor's failure to consider a portion of the property is not omitted property correctable under 311.216.
(4) When omitted property is discovered and its contribution to an account's value is added under ORS 311.216, the value of the previously existing portion of the account cannot be adjusted.
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 311.216