There is a newer version
of
this Section
2019 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 307 - Property Subject to Taxation; Exemptions
Section 307.022 - Qualification for exemption of property of certain limited liability companies.
Universal Citation: OR Rev Stat § 307.022 (2019)
For purposes of the property tax laws of this state, the property of a limited liability company qualifies for an exemption from ad valorem property taxation or special assessment:
(1) If the limited liability company is wholly owned by one or more nonprofit corporations or entities whose property is exempt from taxation under ORS 307.090;
(2) If the property, if held directly by each of the nonprofit corporation owners of the limited liability company, would qualify for the exemption or special assessment; and
(3) Only to the least extent that the property would be granted exemption or special assessment in the hands of any of the nonprofit corporation owners of the limited liability company. [2005 c.688 §2; 2017 c.445 §1]
Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
