Current through Register Vol. 61, No. 4, April 1, 2022
For purposes of calculating maximum assessed value when a
property is subdivided or partitioned, the portion of the property that is
(1) The entire
land that was subdivided or partitioned into smaller lots or parcels, if any.
The improvements if one or
more of the following apply:
The act of
subdividing or partitioning the land results in the apportionment of a single
improvement (building or structure) to more than one tax lot.
Example 1: A lot improved with a duplex is
partitioned such that the duplex is split into two single-family
of subdividing or partitioning the land changes the market's perception of the
value of the improvements.
Example 2: A
partition includes a vacant warehouse that was previously part of a large
industrial complex. Prior to the partition, the market perceived the warehouse
as unnecessary to the industrial complex and of little or no value. After the
partition, the warehouse is a stand-alone improvement no longer associated with
the industrial complex. The market now perceives the warehouse as a property
that can be used for many different purposes with considerable value. By
contrast, there is no change in market perception regarding the remaining
improvements in the industrial complex.
The improvements are divided into
separate units of property.
Example 3: The
legal subdivision of an apartment building into condominium
Admin. R. 150-308-0190
f. & cert. ef. 6-30-98; REV 6-2001, f. & cert. ef. 12-31-01; REV
2-2002, f. 6-26-02, cert. ef. 6-30-02; Renumbered from 150-308.156(5)-(A),
58-2016, f. 8-13-16, cert. ef.
Stat. Auth.: ORS
Stats. Implemented: ORS