Or. Admin. Code § 150-309-0230 - Assessor's Ratio Study for Tax Purposes: Definitions
(1) Appraisal area is an area in a county
generally composed of one or more school districts, a city or other political
subdivision, or any other logical division established by the county assessor
for conducting an orderly reappraisal of taxable property as required by ORS
308.234.
(2) A market area is a group of properties
that generally shares important characteristics that influence value. Each
market area should contain a sufficient number of accounts to ensure an
adequate sale sample for analysis.
(3) Appraisal ratio is the percentage
relationship between the real market value for the prior year and an estimate
of the current year's real market value made by a qualified appraiser for a
particular property.
(4) Appraisal
ratio study is a statistical compilation of appraisal ratios for a
representative group of properties in the county randomly selected on a
property class basis to produce an indication of the ratio of the prior year's
real market value to the current year's real market value for all taxable
properties in a particular class of property within the county, in a particular
class of property within an appraisal area, or in a particular class of
property within a market area.
(5)
Assessor's ratio study is required to be filed with the clerk of the property
value appeals board.
(6) Class is a
classification of property described in OAR
150-308-0310.
(7) Current assessment roll is the roll being
prepared for the tax year beginning July 1, of the current calendar
year.
(8) Current real market value
is the property's real market value, or for specially assessed properties the
statutory value, as of the January 1, assessment date for which the roll is
being prepared.
(9) New
construction is a new structure or structures added to the current assessment
roll or value added by completion of construction, remodeling, renovation or
other physical improvement of existing property.
(10) Properties added to the roll are any
properties on the current assessment roll which were not assessed on the prior
year's roll. They include value added by changed status of specially assessed
properties and value added through partitioning or subdividing
properties.
(11) Qualified
appraiser is an appraiser registered pursuant to ORS
308.010 or who is licensed or
certified under 674.310.
(12) Ratio
study is a study which estimates:
(a) The
percentage relationship between the total prior year's real market value of
each class of taxable property on the prior assessment roll and the total
current real market value of the same properties in each class on the current
assessment roll; and
(b) The
percentage relationship between the total prior year's real market value of
each class of taxable property on the prior assessment roll and the total
current real market value of the same properties in each class on the current
assessment roll within each appraisal area, or market area.
(13) Sales ratio is the percentage
relationship between the real market value for the prior assessment year and
the selling price for a particular property.
(14) Sales ratio study is a statistical
compilation of sales ratios designed to produce an indication of the real
market value ratio of each property class, and the real market value ratio of
each property class within each appraisal area, or market area.
(15) Taxable property includes all locally
assessed property, real and personal, not exempt from taxation (whether
appraised by the assessor or the Department of Revenue). It does not include
properties assessed by the Department of Revenue pursuant to ORS
308.505 to
308.660.
(16) Real market value ratio is the
percentage relationship between the prior year's real market value of a class
of taxable property on the prior assessment roll and the current real market
value of the same property on the current assessment roll.
Notes
Statutory/Other Authority: ORS 305.100
Statutes/Other Implemented: ORS 309.200
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