COMMERCIAL PROPERTY (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income.

Commercial Property includes office buildings, malls, retail stores, farm land, multifamily housing buildings, warehouses, land (including investment properties on undeveloped, raw, rural land in the path of future development. Or, infill land with an urban area, pad sites, and more), garages, and miscellaneous properties (including any other nonresidential properties such as hotel, hospitality, medical centers, and self‐storage developments etc.).

INDUSTRIAL PROPERTY is appraised in the same manner as Commercial. It means a facility or property engaged in manufacturing or processing which includes, but is not limited to sawmills, plywood and veneer plants, paper and pulp mills, food processing facilities, bakeries, flour mills, chemical processing operations refineries, breweries, wineries bottling operations, machine shops, metal rolling mills, metal fabrication facilities, smelters, printing and publishing operations, seed processing operations, permanent sand and gravel operations, and electronic and high technology manufacturing operations.  (OAR 150-306-0100)

“State-appraised industrial property” means industrial property that had real market value for improvements of more than $1 million for the preceding year and whose appraisal responsibility has not been delegated by the department to the county.  We determine the value of a property through a physical appraisal and information provided by the taxpayer in the annual filing (ORS 308.411).

"Improvements" or "real property improvements", for determining responsibility for property of more than $1 million, means improvements erected upon, above or affixed to the land but not the land itself. Improvements include, but are not limited to: yard improvements, buildings, structures, and real property machinery and equipment.  Improvements do not include site development and personal property.

"Yard improvements" include but are not limited to on-site: paving, exterior lighting, log ponds, underground fire systems, fences, access roads and roadways and railroad sidings.

 “Unit of industrial property” means, for appraisal purposes, a single facility or an integrated complex currently engaged in manufacturing or processing operations and may include one or more accounts.

Filing requirements

State-appraised industrial taxpayers must file a completed Industrial Property Return (IPR) postmarked by March 15th of each year. Starting with the 2016 filing, extensions to the filing deadline are no longer allowed.

Oregon law requires that all costs of real and personal property be reported on the IPR. All information contained in the IPR is held confidential (OAR 150-192-0500).

Some state-appraised industrial property may be exempt from taxation, however, we are still responsible for the appraisal and valuation of the property and a completed IPR is still required.

After we (DOR) determine the value of a property, we advise the county assessor of its real market value (ORS 306.126).

Contact:

Robert Wilson 

rwilson@co.coos.or.us

541.396.7912