(1) As used in this section, ‘post-2012 local option tax’ means a local option tax, as defined in ORS § 280.040, that is approved by taxing district electors after January 1, 2013.

Terms Used In Oregon Statutes 457.445

  • agency: means an urban renewal agency created under ORS § 457. See Oregon Statutes 457.010
  • Existing urban renewal plan: means an urban renewal plan that provides for a division of ad valorem property taxes as described under ORS § 457. See Oregon Statutes 457.010
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fiscal year: means the fiscal year commencing on July 1 and closing on June 30. See Oregon Statutes 457.010
  • local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
  • Municipality: means any county or any city in this state. See Oregon Statutes 457.010
  • Permanent rate plan: means an urban renewal plan that:

    (a) Was adopted on or after September 29, 2019; or

    (b) Was substantially amended as described in ORS § 457. 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
  • Reduced rate plan: means an urban renewal plan that:

    (a) Was adopted before December 6, 1996, is an existing urban renewal plan and was designated as an Option One plan under ORS § 457. See Oregon Statutes 457.010

  • Standard rate plan: means an urban renewal plan that is not a permanent rate plan or reduced rate plan. 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

(2) The consolidated billing tax rate of an urban renewal plan equals the total of all taxing district ad valorem property tax rates used to extend taxes, after any adjustment to reflect tax offsets under ORS § 310.105.

(3) Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a standard rate plan excludes any rate derived from:

(a) An urban renewal special levy under ORS § 457.435; and

(b) A post-2012 local option tax.

(4)(a) Notwithstanding subsection (3)(b) of this section, the consolidated billing tax rate of a standard rate plan includes a post-2012 local option tax imposed in a fiscal year for which the urban renewal agency files with the county assessor an impairment certificate in the manner described in paragraph (b) of this subsection not later than the May 1 immediately preceding the beginning of the fiscal year.

(b) An impairment certificate must:

(A) Identify the urban renewal plan to which it relates;

(B) Instruct the county assessor to include the post-2012 local option tax in the consolidated billing tax rate for the urban renewal plan for the ensuing fiscal year;

(C) State that the urban renewal agency has reasonably determined that excluding the post-2012 local option tax from the consolidated billing tax rate for the fiscal year under this subsection would impair contracts that the agency has entered into with owners of indebtedness incurred before October 7, 2013, to carry out the standard rate plan; and

(D) Be signed by an authorized representative of the agency.

(5)(a) The governing body of a municipality that adopted a standard rate plan, other than an existing urban renewal plan designated as an Option Three plan under ORS § 457.435 (2)(c), may, by ordinance or resolution, irrevocably elect to become a reduced rate plan.

(b) An election made pursuant to this subsection applies first to the next following assessment roll if the assessor has received notice of the election from the urban renewal agency before January 1.

(6) Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a reduced rate plan excludes any rate derived from:

(a) An urban renewal special levy under ORS § 457.435;

(b) A local option tax, as defined in ORS § 280.040;

(c) A tax pledged to repay exempt bonded indebtedness, as defined in ORS § 310.140, other than exempt bonded indebtedness used to fund local government pension and disability plan obligations that, until funded by the exempt bonded indebtedness, were described in Article XI, section 11 (5), of the Oregon Constitution, that is approved by taxing district electors after October 6, 2001; and

(d) The increase in the rate of ad valorem property tax allowable under Article XI, section 11 (5)(d), of the Oregon Constitution, for a school district with a statutory rate limit on July 1, 2003, that is greater than $4.50 per $1,000 of assessed value, to the extent that the increase is excluded from local revenues, as that term is used in ORS Chapter 327, and provided that the school district notifies the county assessor of the rate to be excluded for the current fiscal year no later than July 15.

(7) Notwithstanding subsection (2) of this section, the consolidated billing tax rate of a permanent rate plan excludes any rate derived from:

(a) An urban renewal special levy under ORS § 457.435;

(b) A local option tax, as defined in ORS § 280.040;

(c) A tax pledged to repay exempt bonded indebtedness, as defined in ORS § 310.140, other than exempt bonded indebtedness used to fund local government pension and disability plan obligations that, until funded by the exempt bonded indebtedness, were described in Article XI, section 11 (5), of the Oregon Constitution; and

(d) Except for plans that had been standard rate plans prior to September 29, 2019, the increase in the rate of ad valorem property taxes allowable under Article XI, section 11 (5)(d), of the Oregon Constitution, for a school district with a statutory rate limit on July 1, 2003, that is greater than $4.50 per $1,000 of assessed value, to the extent that the increase is excluded from local revenues, as that term is used in ORS Chapter 327, and provided that the school district notifies the county assessor of the rate to be excluded for the current fiscal year no later than July 15. [2009 c.317 § 2; 2013 c.579 § 2; 2019 c.580 § 8]

 

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