Oregon Code § 310.238·Enacted ·Last updated March 01, 2026
Statute Text
Rate
conversion; Measure 5 assessed value rate.
(1) In order to ensure that the consolidated rates
for each code area do not exceed the $5 per $1,000 of real market value limit
for the public school system and $10 per $1,000 of real market value limit for
other government operations that is guaranteed in section 11 (11) and 11b,
Article XI of the Oregon Constitution, the assessor shall, for each code area,
convert the constitutional rate limit for each category into a rate per $1,000
of assessed value by multiplying the applicable rate limit by a fraction, the
numerator of which is the code area market value and the denominator of which
is the code area assessed value.
(2) The assessor
shall add the rates determined under subsection (1) of this section and the
consolidated rate under ORS 310.236 for the exempt bonded indebtedness
category. The total shall be the Measure 5 assessed value rate. [1997 c.541 §33]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 310.238
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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