Instructions For Industrial Property Return (Page 2 of 4) in pdf

C. Have you applied for Enterprise Zone exemption (ORS

expense information, and issues which may indicate economic

285C.403)? If yes, attach a copy of the current Oregon Enter-

or functional obsolescence.

prise Zone Tax Exemption Application form (150-310-075,

You may qualify for an economic obsolescence adjustment to

Rev. 2-04) and attachments. This form must be filed with

the value of your property if indicated by the above informa-

the assessor of the county containing property after Janu-

tion. If this is the case, the Department of Revenue may ask for

ary 1 and on or before April 1, directly following the year

additional information.

in which qualified property is placed in service. File within

the same time frame after each year of exemption. List all

What property not to report

enterprise zone additions, retirements, and personal prop-

erty on schedules 5A through 5E.

Do not report:

D. Are you applying for Cancellation of Assessment on Com-

• The cost of raw land.

mercial Facilities Under Construction (ORS 307.330)? If so,

• Property that you reported on another 2009 Industrial, Real,

please attach a copy of that form (150-310-020, Rev. 3-06).

or Personal Property Return (i.e., logging and construction

This form should be filed with the county assessor by

equipment accounts not at this site).

April 1, 2009. Include the value to be exempt on Schedules

• Property that is located outside the state of Oregon.

1-C and 2-C.

• Property used only for personal, nonbusiness use such as

E. Do you have exempt pollution control property (ORS

household goods and furniture, clothing, personal effects,

307.405)? If this is a new pollution control facility, attach

tools, and equipment used exclusively in and around your

a copy of your pollution control certificate and a list of all

home or in your hobby (ORS 307.190).

property that qualifies for ad valorem pollution control

• Intangible personal property as defined by ORS 307.020:

exemption and the certified cost. If this is not a new pollu-

Money held at interest, bonds, notes, shares of stock in

tion control facility, attach a copy of the Pollution Control

corporations, business records, computer software, surveys

Facilities Exemption form (150-310-059, Rev. 12-02). This

and designs, and the materials on which the data is recorded

form must be filed with the county assessor before April

(paper, tape, film, etc.).

1, 2009. For ad valorem option only.

• Livestock, poultry, fur-bearing animals, bees, or products

used or consumed in farm operations (ORS 307.325).

If C, D, or E above are filed with the Department of Revenue

• Inventories as defined by ORS 307.400. This refers to items

within the time required, they shall be considered filed

of tangible personal property which are held for sale in the

timely with the assessor [ORS 307.340(2)].

ordinary course of business.

F. Do you have any other special property exemptions? If so,

• Licensed vehicles (such as cars and trucks). Fixed load and

please attach the related forms and information.

mobile equipment are taxable (ORS 801.285) and must be

reported.

G. Have you sold a portion of the site? List the name, address,

• Personal property farm machinery (ORS 307.394).

and phone number of the owner, along with a description

• Agricultural frost control systems, agricultural or horticul-

of the property sold and the price on an additional sheet of

tural trellises, hop harvesting equipment, mobile grass field

paper.

incinerators (see ORS 307.390), and certain nursery stock held

If property is sold and removed from the site, report under

by growers for wholesalers (see ORS 307.315).

a retirement schedule.

• Egg equipment.

H. Are the buildings and structures, or land, leased from

another party?

Real Property Instructions

If yes, a separate return must be filed by or for the owner

Schedule 1—Buildings, structures, and yard

of the buildings and structures under the correct account

improvements

number.

Leased machinery and equipment is listed on Schedule 2-D.

1‑A—Completed additions. Describe the addition in enough

Leased personal property is listed on Schedule 4-C.

detail to identify property. Include the starting date, comple-

tion date, costs reported in prior year returns, costs for current

I. Will someone other than an employee act as your agent for

reporting period that were not previously reported, and total

property tax purposes? If so, please attach an authorization

completed costs. See the attached list of examples of buildings,

in the form of a specific power of attorney.

structures, and yard improvements. Include all direct and indi-

J. Inform us of any corrections to the information on the cover

rect costs, i.e., materials, labor, overhead, etc. Note: Machinery

page.

process piping, power wiring, and foundations with machinery

costs must be reported on Schedule 2-A. Column 4 must recon-

Additional information you may provide

cile with prior year returns. If you believe the reported costs

did not add value, then please attach an explanation.

Submit with this return any other information that should be

considered in determining the value of the property. For exam-

1‑B—Retirements. Report the buildings, structures, and yard

ple: plant closures, scheduled liquidations, change in number

improvements you retired from service or that were removed

of shifts, governmental requirements or restrictions, verifiable

from the site during the reporting period, January 1, 2008

presence of toxic contamination, your opinion concerning the

through December 31, 2008. Describe the improvements in

value contribution of the additions, your estimate of the asset

enough detail to identify property. Include the date of con-

lives, your lease agreement for leased property, income and

struction or acquisition, date retired, status of the property. For

150-301-034 (Rev. 10-08)

Instructions For Industrial Property Return Page 2

Related Articles

Related forms

Related Categories