Form 150-310-090 - Multi-Unit Rental Housing Special Assessment Application And Election - Or Page 4
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4the greater of $200 or one-tenth of one percent of the
(b) Following disqualification for any change or
event described in subsection (1)(a) or (c) of this section,
real market value of the property to which the election
a property owner may apply for special assessment
relates, as of the assessment date for that tax year. [2001
pursuant to ORS 308.709.
c.605 §6]
(c) Following disqualification for a choice described
308.714 Disqualification; notification require-
in subsection (1)(d) of this section, a property owner
ments; penalties; rules; reapplication; new property or
may reapply only once for special assessment pursu-
new improvements. (1) An owner of property assessed
ant to ORS 308.709 within the 10-year period following
under ORS 308.707 must notify the county assessor if:
the year in which the property was first qualified for
(a) The property is no longer multiunit rental hous-
special assessment. An owner may not reapply for spe-
ing that is subject to a government restriction on use;
cial assessment pursuant to ORS 308.709 after the end
of that 10-year period.
(b) New property is constructed at the location of
the multiunit rental housing, or new improvements are
(6) New property constructed at the location of the
made to the multiunit rental housing;
multiunit rental housing or new improvements made
to the multiunit rental housing may qualify for spe-
(c) An event described in ORS 308.146(3)(b) or (c)
cial assessment under ORS 308.707 only if the property
occurs with respect to the multiunit rental housing; or
owner files an application under ORS 308.709 in the time
(d) The owner chooses not to have the property
and manner prescribed by ORS 308.709. Notwithstand-
assessed under ORS 308.707.
ing ORS 308.712, the new property or new improve-
ments, if otherwise qualified for special assessment,
(2) The notification must be made within 60 days
must be specially assessed using the method elected
following the date on which the circumstance described
by the property owner for the existing multiunit rental
in subsection (1) of this section occurred.
housing.
(3) The notification must be made in writing and
(7) As used in this section, “new property or new
must indicate the date on which the circumstance
improvements” has the meaning given that term in
described in subsection (1) of this section occurred.
ORS 308.149. [2001 c.605 §7]
(4) The Department of Revenue may by rule pre-
308.724 Rules. The Department of Revenue
scribe penalties to be imposed on a property owner if
shall prescribe rules implementing the provisions of
notification is not made as required by subsections (1)
ORS 308.712(1)(a). The department may prescribe any
to (3) of this section.
other rules necessary to administer the provisions of
(5)(a) Property shall be disqualified from special
ORS 308.701 to 308.724, including rules establishing one
assessment under ORS 308.707 as of the tax year imme-
or more alternative methods for determining the spe-
diately following any change, event or choice described
cially assessed value of multiunit rental housing under
in subsection (1)(a), (c) or (d) of this section.
ORS 308.712(1)(c). [2001 c.605 §9]
Multi-unit app, page 4 of 4
150-310-090 (06-08)
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