Oregon Revised Statutes Revenue and Taxation § 308.510

(1) All land of any railroad, logging road, electric rail or railroad switching and terminal company, including land used or held and claimed exclusively as right of way, with all the tracks and substructures and superstructures that support the right of way, together with all buildings or other structures or improvements, without separating the land and improvements, is real property. Vehicles and any other property is personal property.

(2) All land of any company is real property. Except as provided in subsection (1) of this section, all buildings, structures, improvements of any kind or fixtures of a permanent character of any kind that are located on land that is owned or used by a company is real property. All other property owned or used by a company is personal property.

(4) Property found by the Department of Revenue to have an integrated use for or in more than one business, service or sale, where at least one such business, service or sale is one enumerated in ORS 308.515, shall be classified by the department as being within or without the definition of property under ORS 308.505, according to the primary use of such property, as determined by the department.

(5) For purposes of determining the maximum assessed value of property under section 11, Article XI of the Oregon Constitution, “property” means all property assessed to each company that is subject to assessment under ORS 308.505 to 308.681.