Or. Admin. R. 150-310-0050 - Tax Rate Computation

Current through Register Vol. 61, No. 4, April 1, 2022

(1) The county assessor shall compute the tax rate for each district that levies an ad valorem tax by dividing the district's levy after offsets by the assessed value used to compute the tax rate. The computed tax rate shall be carried to seven decimal places and truncated. A separate tax rate shall be calculated for each category of levy of a taxing district.
(2) In the event that total taxes extended against a property exceed the limitation imposed on a category of taxes defined by Subsection (1) of Section 11b, Article XI of the Oregon Constitution, the taxes imposed upon such property in that category shall be reduced evenly by the percentage necessary to meet the limitation for that category as defined in this rule.
(3) For each property in the county, those taxes to be imposed for the purpose of funding the public school system, but not to pay principal and interest on exempt bonded indebtedness, shall be limited to the amount provided in the following schedule for each $1,000 of real market value of the property: [Schedule not included. See ED. NOTE.]
(4) For each property in the county, those taxes to be imposed for the purpose of funding other government operations, but not to pay principal and interest on exempt bonded indebtedness, shall be limited to $10 for each $1,000 of real market value of the property.
(5) If the taxes in either category to be imposed on any property exceed the limit established for that category in Subsection (3) and (4) of this section, the assessor shall reduce the taxes by applying a reduction percentage. The reduction percentage shall be calculated by subtracting the limit for the category from the total taxes to be imposed in that category and dividing the difference by the amount of the combined tax in the category. The assessor shall then subtract from the taxes that would otherwise be imposed, that proportion of the taxes in the category obtained by multiplying the reduction percentage times the taxing unit's total tax within the category.
(6) After application of the reduction percentage to the taxes within each category, the total amount of taxes to be imposed on the property in either category may be different from the maximum amount that may be imposed due to rounding. In such a case, the tax amount for the district that has the greatest amount of taxes in that category shall be adjusted so that the amount of taxes to be imposed is equal to the maximum that may be imposed.
(7) The reduction percentage shall be carried to at least seven (7) digits.
(8) Alternately, the county may use the reciprocal of the reduction percentage to determine the amount of taxes that may be imposed on a property. When using the reciprocal, the amount of taxes imposed is calculated by multiplying the taxes extended by the reciprocal percentage. The result is the amount of taxes imposed.
(9) The difference between the taxes imposed and the taxes extended is the amount of loss reported by the assessor under ORS 311.105(A).
(10) When computing additional taxes for specially assessed properties that were disqualified prior to June 30, 1991, no compression of taxes is required. If specially assessed property is disqualified for tax year beginning on or after July 1, 1991, the provisions of ORS 310.165(4) apply for computing the additional taxes. (The maximum tax will be based on the real market value of the property for each year of special assessment). [Example not included. See ED. NOTE.]

Notes

Or. Admin. R. 150-310-0050
RD 12-1987, f. 12-18-87, cert. ef. 12-31-87; 6-1988(Temp), f. & cert. ef. 9-2-88 thru 12-31-88; RD 9-1988, f. 12-19-88, cert. ef. 12-31-88; RD 3-1991, f. 12-30-91, cert. ef. 12-31-91; Renumbered from 150-310.090, REV 24-2016, f. 8-11-16, cert. ef. 9/1/2016; REV 19-2017, f. & cert. ef. 6/28/2017

Schedules and examples referenced are available from the agency.

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 310.090

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