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A district may levy annually an ad valorem tax on all taxable property within its boundaries not to exceed in any one year one-half percent (0.005) of the real market value of all taxable property within the boundaries of the district, computed in ance with ORS 308.207 (Computation of real market value for taxing ...
An ad valorem tax is expressed as a percentage. For example, VAT is charged at a rate of 20% in the UK. A 20% ad valorem tax increases production costs by 20% at each level of output, if you consider the supply curve to be the same as a cost curve in an ad valorem tax diagram.
A district may levy annually an ad valorem tax on all taxable property within its boundaries not to exceed in any one year one-half percent (0.005) of the real market value of all taxable property within the boundaries of the district, computed in ance with ORS 308.207 (Computation of real market value for taxing ...
Applications must be filed on or before April 1 of the assessment year for which the exemption is requested. If the property is acquired after March 1 and before July 1, the application must be filed within 30 days of acquisition. All real property must be identified on the application.
To receive a tax exemp- tion, file your claim with the county assessor after January 1 and no later than April 1. For the first year of any such exemption, qualified property must be listed on a Form OR-EZ-PS, Oregon Enterprise Zone Property Schedule, 150-310-076, and included with this claim.
An ad valorem tax is a tax based on the assessed value of an item, such as real estate or personal property. The most common ad valorem taxes are property taxes levied on real estate. The Latin phrase ad valorem means "ing to value." So all ad valorem taxes are based on the assessed value of the item being taxed.
Oregon Property Tax Exemption for People 65 Years of Age and Older Initiative (2020)