Chapter 3.05
PROPERTY TAX

Sections:

3.05.010    Property tax exemption.

3.05.010 Property tax exemption.

A. The provisions of ORS 307.515 through 307.523 as now enacted are adopted.

B. The following standards shall be used in considering an application for tax exemption:

1. The applicant shall furnish, for the city’s approval, its methodology for verifying tenant income in order to assure that the property for which the exemption is granted is occupied solely by low income persons as defined in ORS 307.515.

2. The applicant shall agree to provide the city, on or before July 1st of each calendar year, for so long as the exemption is requested, a financial report that shall contain a pro forma income statement in order to demonstrate that the applicant expends no more than 10 percent of its annual income from residential rentals for purposes other than the acquisition, maintenance or repair of residential property for low-income persons or for the provision of on-site child care services for the residents of the rental property.

3. The applicant shall ensure that enforcement mechanisms are in place and used to ensure that housing receiving exemptions under ORS Chapter 307 are maintained in decent, safe, and sanitary conditions by and for the occupants.

C. The city, after consultation with the county assessor, shall establish an application fee in an amount sufficient to cover the cost to be incurred by the city and the county assessor in administering ORS 307.515 through 307.523. The application fee shall be paid to the city at the time the application for exemption is filed. If the application is approved, the city shall pay the application fee to the county assessor for deposit in the county general fund, after first deducting that portion of the fee attributable to its own administrative costs in processing the application. If the application is denied, the city shall retain that portion of the application fee attributable to its own administrative costs and shall refund the balance to the applicant. [Ord. 2404, 5-15-95; Ord. 2401, 3-6-95. Code 2001 § 36.01.]