| | Relating to taxation; creating new provisions; and amending ORS 311.668. |
 | | Freezes, for property tax purposes, value of principal residence of senior citizen, age 65 or older, at value for 1999-2000 tax year, for year in which senior citizen turns 65 or for year in which senior citizen first owns and occupies principal residence, whichever is later. |
 | | The percentage of the assessed value of the common elements and tax lot that is added to the assessed value of the residence unit shall be computed by dividing the assessed value of the residence unit by the total assessed value of the building exclusive of the common elements, if any. |
 | | If a senior citizen is temporarily absent from the principal residence, or if the senior citizen is absent from the principal residence due to illness, the senior citizen shall nevertheless be considered an occupant of the property. |
| www.leg.state.or.us /99reg/measures/hb2700.dir/hb2792.int.html (2064 words) |