HB 2699

Abstract

Provides that brownfield granted property tax incentive benefit under chapter 96, Oregon Laws 2016, is eligible for] may be granted any other special assessment, exemption or partial exemption granted under other law] for which such property is eligible. Provides that total amount of all property tax benefits granted to brownfield under any law may not reduce property tax liability below zero for any property tax year. Provides that eligible costs of brownfield for purposes of determining property tax incentive benefit under chapter 96, Oregon Laws 2016, shall be reduced by any special assessment, exemption or partial exemption granted to brownfield under any law other than chapter 96, Oregon Laws 2016.] Requires jurisdiction granting brownfield property tax incentive benefit to specify how jurisdiction intends to apply multiple property tax benefits and to notify county assessor of intended application. Takes effect on 91st day following adjournment sine die.