Chapter 193
Oregon Laws 2011
AN ACT
HB 2476
Relating to
county boards of review; creating new provisions; amending ORS 308A.092 and
308A.095; repealing ORS 308A.101 and 308A.104; and prescribing an effective
date.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 308A.095 is amended to
read:
308A.095. (1) Income-approach factors
being utilized by a county assessor in arriving at the values for farm use of
farmland determined under ORS 308A.092 [shall] may be submitted by the county assessor to a county
board of review[. The board of review
shall advise] appointed at the request of the county assessor for the
purpose of advising the county assessor as to whether the factors [being so utilized] are proper under ORS
308A.092.
(2) [The] A county board of review shall consist of:
(a) Two members appointed by the
county court sitting for the transaction of county business, board of county
commissioners or other county governing body of the county.
(b) Two members appointed by the
county assessor.
(c) One member appointed by the four
members appointed as provided in paragraphs (a) and (b) of this subsection, who
shall serve for a term of one year.
(3)(a) Each member of [the] a county board of review
appointed under subsection (2)(a) and (b) of this section shall serve for a
term [ending] of two years [after the date of the expiration of the term
for which the predecessor of the member was appointed,].
(b) [except that a person] Notwithstanding
paragraph (a) of this subsection, a member appointed under subsection
(2)(a) or (b) of this section to fill a vacancy occurring prior to the
expiration of [the] a predecessor’s
term [shall] may not be
appointed for a term longer than the remainder of the predecessor’s
term.
(4) Members of [the] a county board of review must be persons knowledgeable
and experienced in farmland values.
(5) Members of [the] a county board of review shall be reimbursed by the
county for their actual and necessary expenses incurred in the performance of
their functions as members.
SECTION 2. ORS 308A.092 is amended to
read:
308A.092. (1) This section [and ORS 308A.095 set forth the procedures by
which the values for farm use are established for both] applies to:
(a) Exclusive farm use zone farmland
that qualifies for special assessment under ORS 308A.062; and
(b) Nonexclusive farm use zone
farmland that qualifies for special assessment under ORS 308A.068.
(2) The values for farm use of
farmland shall be determined utilizing an income approach. In utilizing the
income approach, the capitalization rate shall be the effective rate of
interest charged in Oregon by the Federal Farm Credit Bank system at the time
of closing on loans for farm properties estimated as an average over the past
five reported calendar years, plus a component for the local tax rate. The
Department of Revenue annually shall determine and specify the rate according
to the best information available, and shall certify the rate to the county
assessors.
(3) The county assessors shall develop
tables for each assessment year that reflect, for each class and area, the
values determined under this section and that express the values as values per
acre.
SECTION 3. ORS 308A.101 and
308A.104 are repealed.
SECTION 4. The amendments to ORS
308A.092 and 308A.095 by sections 1 and 2 of this 2011 Act apply to property
tax years beginning on or after July 1, 2011.
SECTION 5. This 2011 Act takes
effect on the 91st day after the date on which the 2011 session of the
Seventy-sixth Legislative Assembly adjourns sine die.
Approved by
the Governor June 1, 2011
Filed in the
office of Secretary of State June 2, 2011
Effective date
September 29, 2011
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