Multiple Unit Property Tax Exemption Program

Chapter 3.10
MULTIPLE-UNIT PROPERTY TAX EXEMPTION PROGRAM MUPTE
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A.  The provisions of ORS 307.600 to 307.637 are hereby adopted to stimulate the construction or addition of or conversion to multiple-unit housing in the designated core area of the city and in transit-oriented areas; and it is found that multiple-unit housing meeting the qualifications of ORS 307.606(4) would not otherwise be built in the designated areas without the benefits provided by ORS 307.600 to 307.637.

B.  The tax exemption may be approved for up to ten consecutive years beginning July 1st of the tax year after completion of construction.

C.  The term “applicant,” as used in this chapter, means the person seeking the property tax exemption provided by this chapter.

D.  At any time, the city council may, by motion or upon request by the Lane County board of commissioners, set a limit on the maximum amount of foregone tax revenue provided as a benefit of the exemption under this chapter.