(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]
Structure 2021 Oregon Revised Statutes
Volume : 13 - Housing, Games, Environment
Section 457.010 - Definitions.
Section 457.020 - Declaration of necessity and purpose.
Section 457.035 - Urban renewal agencies; creation; ordinance to exercise powers; area of operation.
Section 457.045 - Election of method of exercise of urban renewal agency’s powers.
Section 457.065 - Advisory board for housing authority acting as urban renewal agency.
Section 457.085 - Urban renewal plan requirements.
Section 457.087 - Report required to accompany proposed urban renewal plan.
Section 457.095 - Approval of plan by ordinance; required contents of ordinance; notice.
Section 457.120 - When additional notice required; to whom sent; contents; notice by publication.
Section 457.160 - Exceptions to plan requirements for disaster areas.
Section 457.170 - Urban renewal agency’s powers in planning or undertaking an urban renewal project.
Section 457.180 - Powers of urban renewal agencies in general.
Section 457.190 - Acquisition of funds by urban renewal agency; maximum amount of indebtedness.
Section 457.220 - Plan amendment; limit on additional land and increased maximum indebtedness.
Section 457.420 - Plan may provide for division of property taxes; limits on land area.
Section 457.430 - Certification of assessed value of property in urban renewal area; amendment.
Section 457.435 - Property tax collection methods for existing plans; special levies.
Section 457.437 - Consultation with municipalities; resolution requirements.
Section 457.440 - Computation of amounts to be raised from property taxes; notice; rules.
Section 457.455 - Limiting collections; notification; consultation with taxing districts.
Section 457.470 - Modification of assessed value; indexing; concurrence of taxing districts; rules.