Piedmont Plaza Investors v. Department of Revenue

CARL N. BYERS, Judge.

Plaintiffs appeal the 1994-95 and 1995-96 assessed values of their low-income apartment properties. The properties are operated under a Department of Housing and Urban Development (HUD) program. Through agreements with the owners, the government exercises significant control over the properties in exchange for the owners receiving significant benefits. Oregon law requires that these properties be assessed at their real market value, taking into consideration any effect the governmental restrictions may have on value. ORS 308.205(2)(d). These cases focus on how to measure…