Oregon Statutes 457.420 – Plan may provide for division of property taxes; limits on land area
(1) Any urban renewal plan may contain a provision that the ad valorem taxes, if any, levied by a taxing district in which all or a portion of an urban renewal area is located, shall be divided as provided in section 1c, Article IX of the Oregon Constitution, and ORS § 457.420 to 457.470. Ad valorem taxes shall not be divided if there is no provision in the urban renewal plan for the division.
Terms Used In Oregon Statutes 457.420
- Municipality: means any county or any city in this state. See Oregon Statutes 457.010
- plan: means a plan, as it exists or is changed or modified from time to time for one or more urban renewal areas, as provided in ORS § 457. See Oregon Statutes 457.010
- Taxing district: means the state, city, county or any other unit of government that has the power to levy a tax. See Oregon Statutes 457.010
- Urban renewal area: means a blighted area included in an urban renewal plan or an area included in an urban renewal plan under ORS § 457. See Oregon Statutes 457.010
(2) No plan adopted after October 3, 1979, shall provide for a division of ad valorem taxes under subsection (1) of this section if:
(a) For municipalities having a population of more than 50,000, according to the latest state census:
(A) The assessed value for the urban renewal areas of the plan, when added to the total assessed value previously certified by the assessor for other urban renewal plans of the municipality for which a division of ad valorem taxes is provided, exceeds a figure equal to 15 percent of the total assessed value of that municipality, exclusive of any increased assessed value for other urban renewal areas and without regard to adjustments made pursuant to ORS § 457.435 (2)(c), 457.455 or 457.470 (2) to (5); or
(B) The urban renewal areas of the plan when added to the areas included in other urban renewal plans of the municipality providing for a division of ad valorem taxes, exceed a figure equal to 15 percent of the total land area of that municipality.
(b) For municipalities having a population of less than 50,000, according to the latest state census:
(A) The assessed value for the urban renewal areas of the plan, when added to the total assessed value previously certified by the assessor for other urban renewal plans of the municipality for which a division of ad valorem taxes is provided, exceeds a figure equal to 25 percent of the total assessed value of that municipality, exclusive of any increased assessed value for other urban renewal areas and without regard to adjustments made pursuant to ORS § 457.435 (2)(c), 457.455 or 457.470 (2) to (5); or
(B) The urban renewal areas of the plan, when added to the areas included in other urban renewal plans of the municipality providing for a division of ad valorem taxes, exceed a figure equal to 25 percent of the total land area of that municipality.
(3) Property may not be included in more than one urban renewal area. [1961 c.554 § 3; 1969 c.539 § 2; 1971 c.544 § 4; 1979 c.621 § 24; 1991 c.459 § 334; 1997 c.541 § 447; 2009 c.700 § 3]