Oregon Code § 307.520·Enacted ·Last updated March 01, 2026
Statute Text
Limited equity cooperative property.
(1) Property or a portion of property owned by a limited equity cooperative is
exempt from taxation as provided under ORS 307.515 to 307.523 if:
(a) The property
is occupied by low income persons holding a proprietary lease in the limited
equity cooperative;
(b) The charges
paid by the occupant to the limited equity cooperative for occupancy reflect
the full value of the property tax exemption;
(c) The exemption
has been approved as provided in ORS 307.523, pursuant to an application filed
before July 1, 2030; and
(d) The
information disclosed on the application filed pursuant to ORS 307.521 meets
any other criteria adopted by the governing body.
(2) A governing
body that adopts the provisions of ORS 307.515 to 307.523 may adopt additional
criteria for exemption that do not conflict with the criteria described in
subsection (1)(a) to (c) of this section. [2023 c.398 §21; 2025 c.211 §1]