OAR 150-311-0830: Determination of the Real Market Value Reduction Amount

Each year in which a percentage value reduction is to be allowed, the assessor shall determine if sufficient unused moneys remain from the payments made by the facility to cover the amount of the reduction. This is to be done on the basis of multiplying the amount of assessed value represented by the real market value reduction by the rate percent of levy as extended on the most recent tax roll for each district which entered into the agreement. If sufficient moneys are not available to cover the agreed upon percentage reduction, the assessor shall reduce the percentage reduction to correspond with the available moneys.