Oregon Revised Statutes

Or. Rev. Stat. § 457.430 (2026)

Certification of assessed value of property in urban renewal area; amendment

✓ current as of May 2026

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457.430 Certification of assessed value of property in urban renewal area; amendment. (1) As soon as practicable after the approval of a plan containing a provision authorized by ORS 457.420, the county assessor of each county in which an urban renewal area is located shall prepare, in duplicate, a certified statement of the total assessed value, as shown on the county assessment roll last certified prior to the effective date of the ordinance approving the plan, of all of the taxable real and personal property contained in the urban renewal area in the county.

(2) Wherever only a part of an urban renewal area is located in a taxing district, the assessor also shall show in the statement required by subsection (1) of this section the assessed value of the real and personal property in the part of the urban renewal area located in the taxing district.

(3) One copy of the certified statement shall be filed by the assessor with the agency and the other copy shall constitute a part of the public records of the county assessor’s office.

(4) Whenever a part of an urban renewal area comes within the territory of a taxing district either by annexation, incorporation of a new taxing district or consolidation, after the approval of a plan containing a provision authorized by ORS 457.420, the county assessor shall in the same manner as under subsection (3) of this section file a certified statement or an amendment to a certified statement to show the assessed value of the real and personal property in that part of the urban renewal area incorporated by annexation or consolidation into the taxing district. The assessed value of the real and personal property so incorporated shall be determined in the same manner and as of the same date as provided in subsections (1) and (2) of this section.

(5) When a certified statement is filed as required by subsection (1) of this section, if the law provides a reduction or increase of the valuation for tax purposes of the taxable property contained in the urban renewal area at the time of the filing, the assessor shall state the total assessed value as it is so reduced or increased. After a certified statement has been filed as required by subsection (1) of this section, if a law is enacted which provides a reduction or increase of the valuation for tax purposes of the taxable property contained in the urban renewal area at the time the certified statement was filed, the assessor shall amend the certified statement annually or as otherwise required to reduce or increase the stated total assessed value of the real and personal property accordingly. An amendment to the certified statement shall be filed in the manner provided by subsections (3) and (4) of this section.

(6)(a) Subject to subsections (4) and (5) of this section and paragraph (b) of this subsection, all certified statements and amendments thereto filed under this section before July 14, 1997, shall continue to remain in effect.

(b) Effective as of the tax year beginning on July 1, 1997, the assessor shall amend the amount of assessed value included in a certified statement by applying to the certified assessed value of each tax code area located within an urban renewal area the percentage obtained by dividing the total assessed value within the tax code area, including growth in assessed value over the certified assessed value, by the total real market value within the tax code area. [1961 c.554 §4; 1969 c.539 §3; 1979 c.621 §25; 1981 c.804 §105; 1983 s.s. c.5 §24; 1991 c.459 §335; 1997 c.541 §448]

Notes of Decisions

Cited in 5 cases (1 in the last 5 years), 1987–2022 · leading case: Shilo Inn Portland/205, LLC v. Multnomah Cnty., 36 P.3d 954 (Or. 2001).

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Shilo Inn Portland/205, LLC v. Multnomah Cnty., 36 P.3d 954 (Or. 2001). · cites it 2× “ORS 457.430(1). That certified statement, as adjusted to account for changes in assessed value under Measure 50, ORS 457.”

Dennehy v. Dep't of Revenue, 756 P.2d 13 (Or. 1988). · cites it 2× “ORS 457.430. Thereafter, only this value is counted for purposes of computing the rate at which the property is taxed in order to meet the budgeted needs of the several taxing units.”

City of Portland v. Smith, 838 P.2d 568 (Or. 1992). · cites it 2× “ORS 457.430. This amount becomes the certified or `frozen value' from which the units of local government continue to collect property taxes.”

Urban Renewal Comm. of Oregon City v. Williams, 521 P.3d 494 (Or. Ct. App. 2022). ““ ‘When an urban renewal plan is adopted, the assessor determines and certifies the assessed value of all the taxable property in the urban renewal area as of the assessment date immediately prior to approval of the urban renewal plan.”

Dennehy v. Dep't of Revenue, 10 Or. Tax 348 (Or. T.C. 1987). · cites it 3× “ORS 457.430. This becomes the certified or “frozen” value from which the taxing units continue to collect property taxes.”

— Or. Rev. Stat. § 457.430(1) — 1 case

Shilo Inn Portland/205, LLC v. Multnomah Cnty., 36 P.3d 954 (Or. 2001). “ORS 457.430(1). That certified statement, as adjusted to account for changes in assessed value under Measure 50, ORS 457.”

— Or. Rev. Stat. § 457.430(6)(b) — 1 case

Shilo Inn Portland/205, LLC v. Multnomah Cnty., 36 P.3d 954 (Or. 2001). “ORS 457.430(1). That certified statement, as adjusted to account for changes in assessed value under Measure 50, ORS 457.”

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