(1) When property has once been classified and assessed as historic property pursuant to application filed under ORS 358.480 to 358.545, it shall remain so classified and be granted the special assessment provided by ORS 358.505 until the property becomes disqualified for such classification and assessment by:
(a) Written notice by the taxpayer to the assessor to remove the special assessment.
(b) Sale or transfer to an ownership making it exempt from property taxation.
(c) Removal of the special assessment by the assessor upon discovery that the property no longer qualifies as historic property because it is not in compliance with the preservation plan applicable to the property or for other reason.
(d) In the case of residential property, any other sale or transfer of the property.
(2)(a) Notwithstanding subsection (1)(d) of this section, the sale or transfer to a new owner or transfer by reason of death of a former owner to a new owner does not operate to disqualify the property from the special assessment provided by ORS 358.505 so long as the property continues to qualify as historic property and the new owner expressly assents to the preservation plan in effect for the property and continues to implement the preservation plan.
(b) The new owner shall notify the State Historic Preservation Officer of the sale or transfer of ownership within 60 days after the date that the documents described in ORS 93.040 are recorded.
(3) When, for any reason, the property or any portion thereof ceases to qualify as historic property, the owner at the time of change shall notify the assessor and the State Historic Preservation Officer of the change prior to the next January 1 assessment date. [1975 c.514 §7; 1979 c.346 §1; 1983 c.720 §8; 1991 c.459 §326; 1995 c.5 §11; 1995 c.693 §8; 1997 c.541 §434; 2001 c.540 §11; 2005 c.549 §3]Section: Previous 358.507 358.508 358.509 358.510 358.511 358.512 358.514 358.515 358.516 358.520 358.525 358.526 358.528 358.530 358.535 Next
Last modified: August 7, 2008