307.375 Type
of corporation to which exemption under ORS 307.370 applicable. The exemption provided in ORS
307.370 may be permitted only as to a corporation organized and operated only
for the purpose of furnishing permanent residential, recreational and social
facilities primarily for elderly persons, that:
(1) Is organized
not for profit, pursuant to ORS chapter 65 or any statute repealed by chapter
580, Oregon Laws 1959;
(2) Receives not
less than 95 percent of its operating gross income, excluding any investment
income, solely from payments for living, medical, recreational and social
services and facilities, paid by or on behalf of elderly persons using the
facilities of such corporation;
(3) Permits no
part of its net earnings to inure to the benefit of any private stockholder or
individual; and
(4) Provides in
its articles or other governing instrument that, upon dissolution, the assets
remaining after satisfying all lawful debts and liabilities shall be
distributed to one or more corporations exempt from taxation under this chapter
as corporations organized and operated exclusively for religious, charitable,
scientific, literary or educational purposes, or to the State of Oregon. [1969
c.587 §3]
Notes of Decisions
Gangle v. Dep't of Revenue, 13 Or. Tax 343 (Or. T.C. 1995).
“490(2) provides: “(2) In determining the real market value of the property of a nonprofit home for elderly persons, operated by a corporation described in ORS 307.375, the county assessor shall not take into account considerations of replacement cost, but shall consider: “(a)…”
Hope Vill., Inc. v. Dep't of Revenue, 17 Or. Tax 370 (Or. T.C. 2004).
· cites it 4× “490 provides: “(1) The Legislative Assembly finds that ordinary methods of determining the assessed value of real property, particularly by consideration of the cost of replacing a structure with a similar and comparable one of equivalent utility, are not appropriate with…”
Linus Oakes, Inc. v. Dep't of Revenue, 14 Or. Tax 412 (Or. T.C. 1998).
· cites it 12× “The Douglas County Assessor determined that taxpayer did not qualify as a corporation described in ORS 307.375 1 and denied special valuation under ORS 308.”
Gangle v. Dep't of Revenue, 887 P.2d 784 (Or. 1995).
· cites it 2× ““(2) In determining the real market value of the property of a nonprofit home for elderly persons, operated by a corporation described in ORS 307.375, the county assessor shall not take into account considerations of replacement cost, but shall consider: “ (a) The amount of…”
Polk Cnty. v. Dep't of Revenue, 14 Or. Tax 566 (Or. T.C. 1999).
“The legislature has declared that: “* * * ordinary methods of determining the real market value of real property * * * are not appropriate with respect to property of nonprofit homes for elderly persons, operated by corporations described in ORS 307.375.” ORS 308.490(1).…”
Linus Oakes, Inc. v. Dep't of Revenue, 15 Or. Tax 186 (Or. T.C. 2000).
“Douglas County Assessor (the county) intervened and filed a motion for partial summary judgment to resolve a dispute as to whether taxpayer qualified for special assessment under ORS 307.375 through ORS 307.490. 1 After considering the motions and arguments of the parties, the…”
Gangle v. Dep't of Revenue, 13 Or. Tax 10 (Or. T.C. 1994).
“490(2) provides: “In determining the real market value of the property of a nonprofit home for elderly persons, operated by a corporation described in ORS 307.375, the county assessor shall not take into account considerations of replacement cost, but shall consider: "* * * * *…”
Coos Cnty. Assessor v. Dep't of Revenue, 14 Or. Tax 282 (Or. T.C. 1998).
· cites it 2× “Taxpayer is a nonprofit home for the elderly that qualifies for exemption under ORS 307.375. As a qualifying organization, it applied for and received a property tax exemption for its personal property for tax years 1993-94 through 1995-96.”
Polk Cnty. v. Dep't of Revenue, 14 Or. Tax 476 (Or. T.C. 1998).
· cites it 2× “Plaintiff concedes that Intervenor is a corporation described by ORS 307.375, a necessary condition for special assessment under ORS 308.”
Lush v. Dep't of Revenue, 5 Or. Tax 489 (Or. T.C. 1974).
“” It has qualified under ORS 307.375 as a corporation organized and operated only for the purpose of furnishing permanent residential, recreational and social facilities primarily for elderly persons; not organized for profit; receiving not less than 95 percent of its operating…”
— Or. Rev. Stat. § 307.375(2) — 1 case
Linus Oakes, Inc. v. Dep't of Revenue, 14 Or. Tax 412 (Or. T.C. 1998).
“The Douglas County Assessor determined that taxpayer did not qualify as a corporation described in ORS 307.375 1 and denied special valuation under ORS 308.”
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