(2) The application must be satisfactory to the city or county in form and content and must contain any information required by the city or county, including all of the following:
(a) The address and boundaries of the proposed vertical housing development project.
(b) A description of the existing state of the property.
(c) A description of the proposed project construction or rehabilitation, including the design of the construction or rehabilitation, the cost of the construction or rehabilitation and the number of floors and residential units to be constructed or rehabilitated.
(d) A description of the nonresidential uses to which any portion of the proposed project is to be put, including the proportion of total square footage of the project proposed for nonresidential uses.
(e) A description of the proposed portion of the project to be used for residential uses, including the proportion of total square footage of the project proposed for residential uses.
(f) A description of the number and nature of residential units in the proposed project that are to be low income residential housing, including the proportion of total square footage of the project proposed for low income residential housing uses.
(g) The computations made under subsection (4) of this section.
(h) Documentation establishing the costs of construction and rehabilitation with respect to the project.
(i) A commitment that is satisfactory to the city or county, including documentation and evidence of recording of the documentation, that the project will be maintained and operated in a manner consistent with the application submitted under this section for the duration of the commitment. The duration of the commitment, including the eligibility of units in the project as low income residential housing, may not be less than the number of tax years for which the project is intended to be partially exempt from ad valorem property taxes under ORS 307.864.
(3) For purposes of this section, square footage does not include areas used for parking, patios or porches, unless these areas are demonstrated to the satisfaction of the city or county to be economically necessary to the project or the city or county otherwise determines that it is appropriate to include the areas in square footage.
(4) Each application filed under this section must contain the results of the following computations:
(a) The average floor area of a project equals the total square footage of the project divided by the number of floors of the project that are at least 500 square feet in area. The minimum area of the floors in the divisor may be increased or otherwise qualified by the city or county by rule.
(b) For purposes of determining the partial exemption under ORS 307.864, the exemption multiplier for square footage dedicated to residential uses shall be determined by dividing the total square footage dedicated to residential uses in the project by the average floor area of the project determined under paragraph (a) of this subsection, without rounding this quotient up or down.
(c)(A) For purposes of determining the partial exemption under ORS 307.864, the exemption multiplier for square footage dedicated to low income residential housing shall be determined by dividing the total square footage dedicated to low income residential housing in the project by the average floor area of the project determined under paragraph (a) of this subsection, without rounding this quotient up or down.
(B) For purposes of the computation made under this paragraph, the square footage dedicated to low income residential housing shall include that proportion of the total square footage of residential common space in the project that equals the proportion of the total square footage of low income residential housing units in the project to the total square footage of all residential housing units in the project.
(d) Land that is necessary for a project for which the exemption multiplier determined under paragraph (c) of this subsection equals at least 1.0 shall be certified for partial exemption using the same exemption multiplier as is used for the property of the project. Land that is not necessary for a project may not be certified for partial exemption.
(5)(a) For rehabilitation that does not involve displacement of tenants, the application must be filed on or before the date on which the rehabilitation is complete.
(b) The application must be filed on or before the date on which residential units that are a part of the vertical housing development project are ready for occupancy.
(6) The city or county shall review each application submitted under this section and shall certify or deny certification based on whether the proposed vertical housing development project meets the requirements described in ORS 307.858 and all criteria established by the city or county that are consistent with ORS 307.841 to 307.867.
(7) The city or county may request any documentation or undertake any investigation necessary to ascertain the veracity of any statement made on an application under this section.
(8) The certification issued by the city or county must:
(a) Identify the property included in the certified vertical housing development project;
(b) Identify the exemption multiplier based on the square footage in the project dedicated to residential uses as computed under subsection (4)(b) of this section and include a description of the property so dedicated;
(c) Identify the exemption multiplier based on the square footage in the project dedicated to low income residential housing as computed under subsection (4)(c) of this section and include a description of the property so dedicated; and
(d) Contain any other information prescribed by the city or county.
(9) The determination of the city or county to certify or deny certification is a discretionary determination. The determination is final and is not subject to judicial or administrative review.
(10) The city or county may charge appropriate fees to offset the cost of administering the application and certification process under this section and any other related costs. [Formerly 285C.465; 2017 c.326 §6; 2021 c.476 §2]
Note: Section 13, chapter 326, Oregon Laws 2017, provides:
Sec. 13. (1) Property that was constructed pursuant to a certification for a partial property tax exemption under ORS 307.857 prior to the effective date of this 2017 Act [October 6, 2017] shall continue to receive the exemption according to the same schedule and subject to the disqualification provisions of ORS 307.841 to 307.867 that were in effect and applied at the time the vertical housing development project was certified for partial property tax exemption.
(2) If an application for certification was filed with the Housing and Community Services Department prior to the effective date of this 2017 Act but not acted upon as of the effective date of this 2017 Act, the Housing and Community Services Department shall forward the application to the city or county, as applicable. [2017 c.326 §13]
Structure 2021 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 307 - Property Subject to Taxation; Exemptions
Section 307.022 - Qualification for exemption of property of certain limited liability companies.
Section 307.030 - Property subject to assessment generally.
Section 307.092 - Property of housing authority; exception.
Section 307.095 - State property rented for parking subject to ad valorem taxation; computation.
Section 307.107 - Property used for natural gas pipeline extension project.
Section 307.110 - Public property leased or rented by taxable owner; exceptions.
Section 307.115 - Property of nonprofit corporations held for public parks or recreation purposes.
Section 307.118 - Wastewater and sewage treatment facilities.
Section 307.123 - Property of strategic investment program eligible projects; rules.
Section 307.134 - Definition of fraternal organization.
Section 307.136 - Property of fraternal organizations.
Section 307.140 - Property of religious organizations; affordable housing.
Section 307.145 - Certain child care facilities, schools and student housing.
Section 307.147 - Senior services centers.
Section 307.150 - Property used for burial, cremation or alternative disposition.
Section 307.155 - When land exempt under ORS 97.660, 307.140 or 307.150 taxable; lien.
Section 307.162 - Claiming exemption; late claims; notification of change to nonexempt use.
Section 307.168 - State land under lease.
Section 307.175 - Alternative energy systems.
Section 307.181 - Land acquired or owned by Indian tribe.
Section 307.182 - Federal land used by recreation facility operators under permit.
Section 307.183 - Summer homes on federal land occupied under permit.
Section 307.184 - Summer homes on federal land occupied under lease.
Section 307.197 - Equipment used for certain emergencies in navigable waters.
Section 307.243 - Property to which exemption applies.
Section 307.248 - Suspense account; fiscal year allocation; proration of payments.
Section 307.250 - Property of veterans or surviving spouses.
Section 307.260 - Claiming exemption; alternative procedure for surviving spouse.
Section 307.270 - Property to which exemption of ORS 307.250 applies.
Section 307.286 - Homestead exemption.
Section 307.325 - Agricultural products in possession of farmer.
Section 307.330 - Commercial facilities under construction.
Section 307.340 - Filing proof for cancellation of assessment; abatement.
Section 307.370 - Property of nonprofit homes for elderly persons; limitation on lessee.
Section 307.375 - Type of corporation to which exemption under ORS 307.370 applicable.
Section 307.380 - Claiming exemption under ORS 307.370.
Section 307.398 - Irrigation equipment.
Section 307.405 - Pollution control facilities; qualifications; expiration; revocation; limitations.
Section 307.430 - Correction of assessment and tax rolls; termination of exemption.
Section 307.455 - Definitions for ORS 307.453 to 307.459; application; exemption; limitations.
Section 307.457 - Certification of eligibility of machinery and equipment; fees.
Section 307.480 - Definitions for ORS 307.480 to 307.510.
Section 307.490 - Payments in lieu of taxes; disposition of moneys received.
Section 307.495 - Claiming exemption; verification of compliance with regulatory laws.
Section 307.515 - Definitions for ORS 307.515 to 307.523.
Section 307.517 - Criteria for exemption.
Section 307.518 - Alternative criteria for exemption.
Section 307.521 - Application for exemption; policies for considering applications.
Section 307.523 - Time for filing application; certification of exemption.
Section 307.527 - Ordinance or resolution approving or disapproving application; application fee.
Section 307.529 - Notice of proposed termination of exemption; grounds; terminating exemption.
Section 307.531 - Termination of exemption without notice; grounds; additional taxes.
Section 307.533 - Review; correction of tax rolls; payment of tax after exemption terminates.
Section 307.535 - Extension of deadline for completion; exception to imposition of additional taxes.
Section 307.540 - Definitions for ORS 307.540 to 307.548.
Section 307.541 - Nonprofit corporation low income housing; criteria for exemption.
Section 307.545 - Application for exemption.
Section 307.547 - Determination of eligibility; notice to county assessor.
Section 307.548 - Termination of exemption; additional taxes.
Section 307.555 - Property burdened by affordable housing covenant used for owner-occupied housing.
Section 307.558 - Termination of exemption for noncompliance; additional taxes.
Section 307.580 - Property of industry apprenticeship or training trust.
Section 307.600 - Legislative findings.
Section 307.603 - Definitions for ORS 307.600 to 307.637.
Section 307.612 - Duration of exemption; exclusions.
Section 307.618 - City or county findings required for approval.
Section 307.627 - Termination of exemption; additional taxes.
Section 307.637 - Deadlines for actions required for exemption.
Section 307.651 - Definitions for ORS 307.651 to 307.687.
Section 307.654 - Legislative findings.
Section 307.657 - Local government action to provide exemption.
Section 307.667 - Application for exemption.
Section 307.671 - Approval criteria.
Section 307.674 - Application, approval and denial procedures; filing with assessor; fee.
Section 307.677 - Extension of construction period; effect of destruction of property.
Section 307.681 - Termination of exemption for failure to meet requirements; procedures.
Section 307.684 - Immediate termination of exemption; additional taxes.
Section 307.804 - Rural health care facilities; claim procedures; duration of exemption.
Section 307.806 - Exemption limited to taxes of district adopting ORS 307.804; procedures.
Section 307.811 - Essential community provider long term care facilities.
Section 307.818 - Beach access sites; claim procedures.
Section 307.821 - Disqualification; additional taxes.
Section 307.824 - Findings and declarations.
Section 307.827 - Environmentally sensitive logging equipment.
Section 307.835 - Cargo containers.
Section 307.841 - Definitions for ORS 307.841 to 307.867.
Section 307.854 - Acquisition, disposition and development of real property within zone.
Section 307.858 - Project certification requirements.
Section 307.861 - Monitoring of certified projects; decertification.
Section 307.864 - Partial property tax exemption.
Section 307.866 - Decertification of project; disqualification from exemption; additional taxes.
Section 307.867 - Termination of zone; effect of termination.
Section 307.870 - Definitions for ORS 307.870 to 307.890.
Section 307.875 - Heavy equipment provider registration; records and statements; rules.
Section 307.878 - Collection of tax; quarterly returns; remittance of tax.
Section 307.883 - Taxes held in trust; warrant for delinquent taxes; enforcement procedures.
Section 307.885 - Applicability of other provisions of tax law.
Section 307.888 - Distribution of moneys received; certain information not confidential.
Section 307.890 - Exemption from disclosure; statutory conflict resolution.