There shall be exempt from the levy of the taxing unit that is the party to an agreement entered into under ORS 311.860 for each tax year indicated in the agreement, the percentage amount of real market value, allocable to or within the taxing unit, of the facility specified in the agreement for that tax year. The assessor shall modify the amount of the exemption or terminate the exemption at such time as the assessor determines that the monetary value of the exemption has equaled the amount of moneys paid by the facility under the agreement plus interest. [1975 c.563 §4; 1991 c.459 §263]
Section: Previous 311.815 311.820 311.821 311.825 311.827 311.830 311.835 311.840 311.845 311.850 311.855 311.860 311.865 311.870 311.990 NextLast modified: August 7, 2008