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Oregon Revised Statutes Revenue and Taxation § 307.651

Current as of January 01, 2023 | Updated by Findlaw Staff

As used in ORS 307.651 to 307.687, unless the context requires otherwise:

(1) “Governing body” means the city legislative body having jurisdiction over the property for which an exemption may be applied for under ORS 307.651 to 307.687.

(2) “Qualified dwelling unit” means a dwelling unit that, upon completion, has a market value (land and improvements) of no more than 120 percent, or a lesser percentage as adopted by the governing body by resolution, of the median sales price of dwelling units located within the city.

(3) “Single-unit housing” means a newly constructed structure having one or more dwelling units that:

(a) Is, or will be, at the time that construction is completed, in conformance with all local plans and planning regulations, including special or district-wide plans developed and adopted pursuant to ORS chapters 195, 196, 197 and 227.

(b) Is constructed on or after January 1, 1990, and is completed within two years after application for exemption is approved under ORS 307.674 or before January 1, 2025, whichever is earlier.

(c) Upon completion, is designed for each dwelling unit within the structure to be purchased by and lived in by one person or one family.

(d) Upon completion, has one or more qualified dwelling units within the single-unit housing.

(e) Is not a floating home, as defined in ORS 830.700, or a manufactured structure, as defined in ORS 446.561, other than a manufactured home described in ORS 197.307 (8)(a) to (f).

(4) “Structure” does not include the land or any site development to the land, as those terms are defined in ORS 307.010.

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Cite this article: FindLaw.com - Oregon Revised Statutes Revenue and Taxation § 307.651 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-29-revenue-and-taxation/or-rev-st-sect-307-651/

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