1. (1) Property that has been classified and specially assessed as historic property under ORS 358.480 to 358.545 remains classified and specially assessed until it is disqualified for classification and special assessment by:

   1. (a) Expiration of the 10-year period of special assessment.
   2. (b) Sale or transfer to a governmental or nonprofit entity that is exempt from ad valorem property taxation.
   3. (c) Destruction or alteration by acts of nature or other events for which the owner is not responsible.
   4. (d) Written notice by the owner to the county assessor to discontinue the special assessment.

   5. (e) The owner’s failure to:

      1. (A) Maintain, preserve or rehabilitate the historic property;
      2. (B) Comply with the expenditure commitment under the preservation plan as required under ORS 358.487 (2)(a); or
      3. (C) Comply with the historic rehabilitation standards.
   6. (f) The owner’s failure to submit required reports.
   7. (g) Failure of the property to be listed in the National Register of Historic Places, either individually or as a contributing resource, within two years following classification as required under ORS 358.487 (4)(c).
   8. (h) The owner’s failure to obtain or to maintain the property insurance required under ORS 358.487 (2)(d).
   9. (i) The owner’s demolition of the historic property.
   10. (j) The owner’s alteration of the historic property in a way that does not meet the historic rehabilitation standards.
   11. (k) The property ceasing to be commercial property.
2. (2) When the historic property or any portion of the property ceases to be eligible for classification and special assessment as historic property for any reason, the owner shall notify the county assessor and the State Historic Preservation Officer of the change before the next assessment date.
3. (3) The State Historic Preservation Officer shall make the final determination of whether historic property is disqualified for special assessment under ORS 358.480 to 358.545.
4. (4) Except in the circumstances described in subsection (1)(a) of this section, disqualification does not constitute completion of a 10-year period of special assessment under ORS 358.480 to 358.545 or preclude the property’s future special assessment under ORS 358.480 to 358.545.
5. (5) Upon expiration under subsection (1)(a) of this section of a 10-year period of special assessment, the State Historic Preservation Officer shall notify the owner, the governing body and the county assessor that the term has expired.

Note: The amendments to 358.515 by section 9, chapter 209, Oregon Laws 2025, apply to applications for classification and special assessment under 358.480 to 358.545 filed on or after September 26, 2025, for property tax years beginning on or after July 1, 2026. See section 22, chapter 209, Oregon Laws 2025. The text that applies to applications for classification and special assessment under 358.480 to 358.545 filed before September 26, 2025, for property tax years beginning before July 1, 2026, is set forth for the user’s convenience.

[1975 c.514 §7; 1979 c.346 §1; 1983 c.720 §8; 1991 c.459 §326; 1995 c.5 §11; 1995 c.693 §8; 1997 c.541 §434; 2001 c.540 §11; 2005 c.549 §3; 2009 c.892 §9; 2025 c.209 §9]