Instructions For Industrial Property Return (Page 3 of 4) in pdf

example: for sale, to be demolished for scrap, abandoned in

Retired property is removed from the roll at its depreciated

value.

place, no plans to remove, etc. Provide the total original cost.

2‑C—Being installed on January 1. Machinery and equipment

Retired property is removed from the roll at its depreciated

being installed on January 1 must be reported in this schedule.

value.

The description should include the company asset number, asset

1‑C—Under construction on January 1. Improvements under

name, model number, and location within the plant. Provide the

construction on January 1 must be reported on this schedule.

starting date, estimated completion date, costs reported in prior

Include starting date, estimated completion date, costs reported

year returns, costs for current reporting period not previously

in prior year returns, costs for current reporting period that were

reported, and estimated total completed cost. Column 5 must

not previously reported, and estimated total completed costs.

reconcile with prior year returns. If reported costs did not add

Include all direct and indirect costs, i.e., materials, labor, over-

value, attach explanation.

head, etc. Column 4 must reconcile with prior year returns. If

2‑D—Real property equipment leased from and/or owned by

reported costs did not add value, attach explanation.

others. List real property equipment leased from and/or owned

1‑D—Land site development. Land site development is defined

by others. Submit lessor’s/owner’s name, address, and phone

as anything you do that improves the land, such as draining,

number. Describe the asset similarly to Schedule 2-A. Provide

filling, leveling, rocking, underground utilities, underground

yearly lease amount, original lease date, lease expiration date,

utility connections, and excavation. Do not include the cost of

original cost, or option to purchase date, and amount. All real

raw land in the costs reported on any schedule in this report.

property must be assessed to the owner [ORS 308.115(3)]. The

value of the real property equipment leased and owned by

Provide the costs of site alteration or improvements, as

others will not be included in the real market value for your

described above, that occurred during the reporting period,

account. List leased personal property on Schedule 4-C.

January 1, 2008 through December 31, 2008. The reported cost

will not affect the value of your improvements on this account.

Schedules 1 and 2

Measure 50 instructions

—

The county assessor will consider the reported costs when

for additions

appraising the land.

Report the total cost of all additions for buildings, structures,

Schedule 2—Machinery and equipment

yard improvements, and machinery and equipment including

those for minor construction and general ongoing maintenance

2‑A—Completed additions. The description of the additions

and repair, on the appropriate schedules.

should include the company asset number, name, model num-

ber, and location within the plant. Provide the starting date,

“General ongoing maintenance and repair” means activity

completion date, costs reported in prior year returns, costs for

that preserves the condition of existing improvements with-

out significantly changing design or materials, does not cre-

current reporting period not previously reported, and the total

ate new structures or additions or replaces real or personal

completed costs. See the attached list of examples of machinery

machinery and equipment. If you believe the addition falls

and equipment.

into this category then identify it as such. You may also include

Completed additions need to include the invoice cost, installa-

an estimate of the amount that contributes to value [OAR

tion, engineering, and miscellaneous costs including machinery

150-308.149-(A)].

process piping, foundations, power wiring, interest during

Minor construction means “additions of real property improve-

installation, and freight. State the date of manufacture. If avail-

ments, the real market value of which does not exceed $10,000 in

able, provide a breakdown similar to the following: machinery

any assessment year or $25,000 for cumulative additions made

components, $20,000; installation, $10,000; engineering, $2,000;

over five assessment years” [ORS 308.149(6)]. Report all addi-

interest during construction, $1,000; miscellaneous, $5,000;

tions, no matter how small. The assessor will track and calculate

(total, $38,000). Transfers from other company locations should

the totals for minor construction.

be noted and the cost basis explained. State the original cost

when new. Column 5 must reconcile with prior year returns. If

Schedule 3—Production report

reported costs did not add value, attach explanation.

3‑A—Production. Enter actual production output, stated in

Did the addition replace machinery and equipment that was

units, appropriate for your specific industry for each of the past

retired from service or removed from the site? If so, report the

seven years. Enter full production amount as stated in annual

equipment removed as retirements.

projections, for each of the past seven years. Design capacity

2‑B—Retirements. Report the machinery and equipment

figures are based on perfect machine output on an annual basis

improvements you retired from service or that were removed

for the years requested.

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

3‑B—Changes. Enter any major changes in design capacity or

through December 31, 2008. Describe the improvements in

production that have taken place during this reporting period.

enough detail to identify property, including company asset

Explain the reason(s) for these changes. Use additional sheets

number, name, model, and location within the plant. Include the

of paper if necessary.

year of installation or acquisition and the date retired. Describe

the status of the property that was removed from service during

3‑C—Work schedules. Explain the structure of the work

the reporting period, but was still on the site January 1, 2009.

schedules for 2008. If you have other shifts flexing between the

For example: for sale, to be demolished for scrap, abandoned in

regular production shifts, please explain these on a separate

place, no plans to remove, etc. Provide the total original cost.

sheet of paper.

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

Instructions For Industrial Property Return Page 3

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