Current through Register Vol. 61, No. 4, April 1, 2022
In addition to
the assessed value of property, the assessment roll must show:
(a) The real market value (RMV) of the land,
excluding all buildings, structures, and improvements thereon;
(b) The RMV of all buildings, structures, and
(c) The total RMV
for each parcel of real property not required to be assessed as a
(d) For properties subject to
ORS Chapter 100, for example, condominiums and time shares that are required to
be assessed as a unit, the assessment roll must show the RMV as well as the
assessed value of each unit.
(2) The assessment roll must include the
property classification code number for each parcel of real property in the
county, except for those properties assessed by the department under ORS
The assessor must classify and assign a property classification code number to
each parcel as provided in section (8) of this rule.
(3) The assessor must maintain the proper
classification on each parcel of property.
(4) A county must separately identify and
adjust land and improvement values for each property class for each market area
to bring real property to RMV. These adjustments to value must be developed
from market studies or by any other method approved by the department as
provided under ORS
(5) The class code numbers that this rule
establishes must be used for computing the real property class ratios required
(6) An assessor must obtain written approval
from the Department of Revenue before deviating from the basic property classes
defined in section (8) of this rule.
classification must be based upon highest and best use of the property. The
term "highest and best use" is defined in OAR 150-308-0240
. The class
associated with the property may or may not be its current use.
(b) Unique properties can be classified under
the "miscellaneous" category in section (8). The "miscellaneous" category can
also be used for property requiring a separate trend.
(c) The property classification system must
not be used to categorize market data that is more accurately described by
other characteristics, such as the quality class of the improvements, market
areas, or neighborhoods.
property class for mixed-use or transitional properties will be assigned based
upon the use that contributes the most to the real market value on the current
(A) A mixed-use property is
one in which different parts of the property are used differently, such as a
commercial use on one part, and a residential use on another part.
(B) A transitional use property is one in
which the real market value on the current assessment date, at its current
highest and best use, is being influenced in the market by an anticipated
change in future use, such as residential property that is likely to sell for a
commercial use in the future, but is not in commercial use on the assessment
DEFINITIONS FOR PROPERTY CLASSIFICATION SYSTEM. [See PDF link below.]
Admin. R. 150-308-0310
11-73; 1-1-77; TC 10-1978, f. 12-5-78, cert. ef. 12-31-78; TC 17-1979, f.
12-20-79, cert. ef. 12-31-79; RD 9-1984, f. 12-5-84, cert. ef. 12-31-84; RD
16-1987, f. 12-10-87, cert. ef. 12-31-87; RD 9-1989, f. 12-18-89, cert. ef.
12-31-89; RD 8-1991, f. 12-30-91, cert. ef. 12-31-91; RD 6-1993, f. 12-30-93,
cert. ef. 12-31-93, Renumbered from 150-308.215(1); RD 6-1994, f. 12-15-94,
cert. ef. 12-30-94; RD 1-1995, f. 12-29-95, cert. ef. 12-31-95; RD 9-1997, f.
& cert. ef. 12-31-97; REV 11-2000, f. 12-29-00, cert. ef. 12-31-00; REV
2-2002, f. 6-26-02, cert. ef. 6-30-02; REV 2-2005, f. 6-27-05, cert. ef
6-30-05; REV 4-2006, f. & cert .ef. 7-31-06; Renumbered from
57-2016, f. 8-13-16, cert. ef.
35-2017, f. & cert. ef.
77-2017, minor correction filed 12/28/2017,
32-2018, amend filed 12/31/2018, effective
Statutory/Other Authority: ORS
Statutes/Other Implemented: ORS