Oregon Petition for Creation of Historic District
Description
How to fill out Petition For Creation Of Historic District?
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FAQ
Special Assessment, Existing State Benefit: The Oregon State Historic Preservation Office administers the Special Assessment program, which allows owners of properties listed in the National Register of Historic Places to apply to freeze the assessed value of the property for a 10-year period.
A property's assessed value is the lower of its real market value or its maximum assessed value. Each year, the county assessor determines the property's real market value and calculates its maximum assessed value. You are taxed on the lesser of the two, which is called the assessed value.
Oregon´s Special Assessment of Historic Properties program offers a specially assessed value, calculated by the county assessor, to formally listed National Register properties for a 10-year benefit term.
The Historic Property Program can reduce property taxes for properties that have been formally listed on the National Register. Benefits typically last 10 years.
Federal Tax Credit Program ? 20% program, Existing Federal Benefit: The Oregon State Historic Preservation Office administers a federal tax credit program that can save building owners twenty percent of the cost of rehabilitating their National Register-listed commercial, industrial, or rental residential building.
Oregon Property Tax Exemption for People 65 Years of Age and Older Initiative (2020)