City Code Section
- A Property for which an application for a property tax exemption has been approved under the provisions of this Chapter will be exempt from ad valorem taxation for one year beginning July 1 of the tax year immediately following approval of the exemption, or when, pursuant to ORS 307.330, the property would have gone on the tax rolls in the absence of the exemption provided for in this Chapter. The exemption provided in this Section will be in addition to any other exemption provided by law.
- B. Applications for property tax exemption under this Chapter will apply to and may be approved for assessment years beginning on or after January 1, 1985, but no later than January 1, 2027.
- C. The exemption as provided by this Chapter will apply to the tax levy of all taxing districts in Portland in which property certified for exemption is located as long as the City has achieved the approval from such taxing districts whose governing boards agree to the policy of exemption, equal to 51 percent or more of the total combined rate of taxation on the property certified for exemption.