Or. Admin. Code § 150-308-0490 - Appraisal and Valuation of Industrial Plants

(1) The preliminary survey is defined as gathering of data necessary to determine the methods and approaches to be used in the appraisal to value the plant. Data pertaining to the plant may be obtained from files in the Department of Revenue, from the county assessor's office, from the company itself or from other sources. Information to be obtained may include but is not limited to:

(a) Type of industry;

(b) Chronological age of the plant;

(c) Dates of major modernizations;

(d) Production rates relative to plant capacity;

(e) Economic factors affecting the industry;

(f) Records of sales of comparable plants;

(2) Following the collection and analysis of data, a preliminary survey letter will be written to the taxpayer summarizing the information found in (2) above. The letter should describe the property with the following:

(a) Company name;

(b) Address;

(c) Property description;

(d) County;

(e) Account number;

(f) Code number. The letter will also indicate the approaches that will most likely be used in the appraisal of the property. If the appraiser has determined that the income approach is an appropriate appraisal technique to use, an "Initial Request for Financial Data" form will be included with the preliminary survey letter.

(3) Following receipt of the preliminary survey letter the plant owner or owner's representative shall meet with the appraiser. This meeting may take place in person, or may take place as a telephone conversation. The purpose of the meeting is to clarify any points in the preliminary survey letter or the "Initial Request for Financial Data" and to assist the taxpayer in making a decision concerning the election options.

Notes

Or. Admin. Code § 150-308-0490

RD 9-1989, f. 12-18-89, cert. ef. 12-31-89; Renumbered from 150-308.411-(A), REV 56-2016, f. 8-13-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 308.411