OAR 150-308-0300: Valuation Review of State-appraised Industrial Property.

(1) The department may conduct valuation reviews of state-appraised industrial properties to verify the accuracy of the property's real market value and maximum assessed value. (2) Valuation reviews will follow procedures adopted by the Department of Revenue. (3) The real market value and maximum assessed value of a property may change for the current year and previous years following the requirements in ORS 311.205 and 311.216, as a result of the valuation review. (4) The real market value and maximum assessed value of a property may change for subsequent tax years if the result of the valuation review is a change in valuation judgment. (5) This rule is effective January 1, 2016.