- (1) The department may conduct valuation reviews of state-appraised industrial properties to verify the accuracy of the property's real market value and maximum assessed value.
- (2) Valuation reviews will follow procedures adopted by the Department of Revenue.
- (3) The real market value and maximum assessed value of a property may change for the current year and previous years following the requirements in ORS 311.205 and 311.216, as a result of the valuation review.
- (4) The real market value and maximum assessed value of a property may change for subsequent tax years if the result of the valuation review is a change in valuation judgment.
- (5) This rule is effective January 1, 2016.
Statutory/Other Authority
ORS 305.100 & 308.205
Statutes/Other Implemented
ORS 308.205
History
Renumbered from 150-308.205-(H), REV 57-2016, f. 8-13-16, cert. ef. 9-1-16
Renumbered from 150-308.205(2), REV 4-2015, f. 12-23-15, cert. ef. 1-1-16
REV 12-1998, f. 12-29-98, cert. ef. 12-31-98
REV 9-1998, f. 12-11-98, cert. ef. 12-31-98