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Oregon Revised Statutes

Or. Rev. Stat. § 307.540 (2026)

Definitions for ORS 307.540 to 307.548

✓ current as of May 2026
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      307.540 Definitions for ORS 307.540 to 307.548. As used in ORS 307.540 to 307.548:

      (1) “Governing body” means the city or county legislative body having jurisdiction over the property for which an exemption may be applied for under ORS 307.540 to 307.548.

      (2) According to the election of a governing body pursuant to ORS 307.543 (1), “low income” means:

      (a) Income at or below 60 percent of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development;

      (b)(A) For the initial year that persons occupy property for which an application for exemption is filed under ORS 307.545, income at or below 60 percent of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development; and

      (B) For every subsequent consecutive year that the persons occupy the property, income at or below 80 percent of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development; or

      (c) For housing units on property that is awarded tax credits through the federal Low-Income Housing Tax Credit program and is a qualified low-income housing project meeting the requirements of 26 U.S.C. 42(g)(1)(C), income at or below 80 percent of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development, provided the average area median income of all housing units on the property is at or below 60 percent of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development. [1985 c.660 §1; 1993 c.168 §7; 2005 c.94 §39; 2015 c.141 §1; 2015 c.180 §45; 2021 c.528 §5]

 

      Note: Section 6, chapter 660, Oregon Laws 1985, provides:

      Sec. 6. ORS 307.540 to 307.548 apply to tax years beginning on or after January 1, 1985, and before July 1, 2033. [1985 c.660 §6; 1993 c.108 §1; 2003 c.215 §1; 2011 c.191 §1; 2025 c.192 §1]

 

      Note: Section 3, chapter 141, Oregon Laws 2015, provides:

      Sec. 3. (1) A governing body that has adopted the provisions of ORS 307.540 to 307.548 before the effective date of this 2015 Act [October 5, 2015] may, on or after the effective date of this 2015 Act, elect a definition of “low income” under ORS 307.540 as amended by section 1 of this 2015 Act. An election made pursuant to this subsection applies to the first property tax year that begins on or after the date on which the election is made.

      (2) If a governing body described in this section does not make an election under subsection (1) of this section, the definition of “low income” provided in ORS 307.540 as in effect immediately before the effective date of this 2015 Act shall apply to the exemption allowed by the governing body.

      (3) This section is repealed on June 30, 2027. [2015 c.141 §3]

Notes of Decisions
Cited in 4 cases, 2011–2013 · leading case: Multnomah Cnty. Assessor v. Portland Devel. Comm. II, 21 Or. Tax 66 (Or. T.C. 2012).
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Multnomah Cnty. Assessor v. Portland Devel. Comm. II, 21 Or. Tax 66 (Or. T.C. 2012). · cites it 2× “II (13) During the period of Central City Concern’s management of The Fairfield, applications for exemption were made under ORS 307.540 to 307.548. The residential portion of the property was exempted under that statute for tax years up through 2005-06.”
Portland Reinv. v. Multnomah Cnty., Tc-Md 091616c (or.tax 2-18-2011) (Or. T.C. 2011). · cites it 4× “ANALYSIS The applicable statutory framework for the nonprofit corporation low income housing exemption lies in ORS 307.540 through ORS 307.548. 2 The exemption is provided in ORS 307.”
Portland Comm. v. Multnomah Cnty. Assr., Tc-Md 091615c (or.tax 2-9-2011) (Or. T.C. 2011). · cites it 3× “The Exemption Laws: ORS 307.540 through 307.548 ORS 307.541(1) provides a property tax exemption for property owned by an Internal Revenue Code section 501 (c)(3) or (4) exempt corporation that is either occupied by low income persons or held for future development as low income…”
Corvallis Nbhd. Hous. Svcs. v. Linn Cty. Assessor, 21 Or. Tax 95 (Or. T.C. 2013). · cites it 3× “The taxing authorities, in their briefing, refer the court to two sets of statutes—ORS 307.540 to 307.548 and ORS 307.515 to 307.”
— Or. Rev. Stat. § 307.540(1) — 1 case
Portland Reinv. v. Multnomah Cnty., Tc-Md 091616c (or.tax 2-18-2011) (Or. T.C. 2011). “ANALYSIS The applicable statutory framework for the nonprofit corporation low income housing exemption lies in ORS 307.540 through ORS 307.548. 2 The exemption is provided in ORS 307.”
— Or. Rev. Stat. § 307.540(2) — 1 case
Portland Comm. v. Multnomah Cnty. Assr., Tc-Md 091615c (or.tax 2-9-2011) (Or. T.C. 2011). “The Exemption Laws: ORS 307.540 through 307.548 ORS 307.541(1) provides a property tax exemption for property owned by an Internal Revenue Code section 501 (c)(3) or (4) exempt corporation that is either occupied by low income persons or held for future development as low income…”
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