(1) Except as provided in subsection (2) of this section, the exemption granted under ORS § 307.540 to 307.548 applies only to the tax levy of a governing body that adopts the provisions of ORS § 307.540 to 307.548. At the time of adoption, the governing body shall elect a definition of ‘low income’ under ORS § 307.540.

(2) The exemption granted under ORS § 307.540 to 307.548 applies to the tax levy of all taxing districts in which property certified for exemption is located if, upon request of a governing body that has adopted the provisions of ORS § 307.540 to 307.548, the rates of taxation of such taxing districts whose governing boards agree to the policy of exemption under ORS § 307.540 to 307.548, when combined with the rate of taxation of the governing body that adopts the provisions of ORS § 307.540 to 307.548, equal 51 percent or more of the total combined rate of taxation on the property granted exemption.

(3) A governing body may adopt additional provisions relating to the exemption granted under ORS § 307.540 to 307.548 that do not conflict with the provisions of ORS § 307.540 to 307.548. [1985 c.660 § 3; 2015 c.141 § 2; 2015 c.310 § 8]

See first note under 307.540.