2011 Oregon Revised Statutes
ORS Volume 8, Chapters 305 - 325
ORS Chapter 308
308.235 Valuation of land.
(1) Taxable real property shall be assessed by a method which takes into consideration:
(a) The applicable land use plans, including current zoning and other governmental land use restrictions;
(b) The improvements on the land and in the surrounding country and also the use, earning power and usefulness of the improvements, and any rights or privileges attached thereto or connected therewith; and
(c) The quality of the soil, and the natural resources in, on or connected with the land, its conveniences to transportation lines, public roads and other local advantage of a similar or different kind.
(2) If land is situated within an irrigation, drainage, reclamation or other improvement district, the value of the land shall not be considered to be increased until the construction and improvement of the district have been completed to the point that water may be delivered to or removed from the land, as the case may be. [Amended by 1953 c.701 2; 1957 c.324 4; subsection (2) enacted as 1967 c.601 12; 1969 c.601 14; 1975 c.671 1; 1981 c.804 40]
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