Or. Rev. Stat. » Oregon Revised Statutes

Or. Rev. Stat. § 308A.092

Determining value for farm use; procedure

Find cases: SyfertCases citing this section ORSoregonlegislature.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

      308A.092 Determining value for farm use; procedure. (1) This section applies to:

      (a) Exclusive farm use zone farmland that qualifies for special assessment under ORS 308A.062; and

      (b) Nonexclusive farm use zone farmland that qualifies for special assessment under ORS 308A.068.

      (2) The values for farm use of farmland shall be determined utilizing an income approach. In utilizing the income approach, the capitalization rate shall be the effective rate of interest charged in Oregon by the Federal Farm Credit Bank system at the time of closing on loans for farm properties estimated as an average over the past five reported calendar years, plus a component for the local tax rate. The Department of Revenue annually shall determine and specify the rate according to the best information available, and shall certify the rate to the county assessors.

      (3) The county assessors shall develop tables for each assessment year that reflect, for each class and area, the values determined under this section and that express the values as values per acre. [Formerly 308.345; 2011 c.193 §2]

Notes of Decisions
Cited in 4 cases, 2012–2018 · leading case: Boardman Acquisition, LLC v. Department of Revenue
Sort: Relevance Newest Treatment
Boardman Acquisition, LLC v. Department of Revenue (2017) or “See ORS 308A.092(2) (“The values for farm use of farmland shall be determined utilizing an income approach [.”
Boardman Acquisition LLC v. Morrow County Assessor (2013) ortc · cites it 3× “) Consistent with the intent of the legislature, the specially assessed value was a reduced amount determined in accordance with the provisions of ORS 308A.092 and ORS 308A.107, using the statutorily mandated income approach set out in subsection (2) of ORS 308A.”
Benton Habitat For Humanity v. Benton County Assessor (2018) ortc “; ORS 308A.092(2). Similarly, designated forestland is “taxed based on the value of the forestland in timber production,” regardless of whether the land might command a higher price for another use.”
Miller v. Jackson County Assessor (2012) ortc “ORS 308A.092(1), (2). Thus, exemptions exclude property from taxation, whereas special assessments single out certain kinds of property for reduced taxes through lower assessed values.”
— Or. Rev. Stat. § 308A.092(1) — 1 case
Miller v. Jackson County Assessor (2012) ortc “ORS 308A.092(1), (2). Thus, exemptions exclude property from taxation, whereas special assessments single out certain kinds of property for reduced taxes through lower assessed values.”
— Or. Rev. Stat. § 308A.092(2) — 2 cases
Boardman Acquisition, LLC v. Department of Revenue (2017) or “See ORS 308A.092(2) (“The values for farm use of farmland shall be determined utilizing an income approach [.”
Benton Habitat For Humanity v. Benton County Assessor (2018) ortc “; ORS 308A.092(2). Similarly, designated forestland is “taxed based on the value of the forestland in timber production,” regardless of whether the land might command a higher price for another use.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.