Agenda Packet 9-24-18 Meeting - Laserfiche WebLink

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(a) (b) (c) (3) (4) (a) (b) (A) (B) interest rate for a one-year United States Government Treasury Bill on December 31 of each year of the period between the date the land use regulation was enacted and the date the claim was filed, compounded annually on January 1 of each year of the period. A claimant must provide an appraisal showing the fair market value of the property one year before the enactment of the land use regulation and the fair market value of the property one year after the enactment. The actual and reasonable cost of preparing the claim, including the cost of the appraisal, not to exceed $5,000, may be added to the calculation of the reduction in fair market value under this subsection. The appraisal must: Be prepared by a person certified under ORS chapter 674 or a person registered under ORS chapter 308; Comply with the Uniform Standards of Professional Appraisal Practice, as authorized by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; and Unless the claim is based on the enactment of one or more land use regulations described in ORS 195.300 (Definitions for ORS 195.300 to 195.336) (14)(e), expressly determine the highest and best use of the property at the time the land use regulation was enacted. Unless the claim is based on the enactment of one or more land use regulations described in ORS 195.300 (Definitions for ORS 195.300 to 195.336) (14)(e), relief may not be granted under this section if the highest and best use of the property at the time the land use regulation was enacted was not the use that was restricted by the land use regulation. For a claim based on a land use regulation described in ORS 195.300 (Definitions for ORS 195.300 to 195.336) (14)(e), the reduction in fair market value: Is the reduction in fair market value of a lawfully established unit of land that is attributable to the land use regulation on the date the claim is filed. May, at the election of the owner who files the claim, be supported: In the manner described in subsection (2) of this section; or By appraisals showing the value of the land and harvestable timber, with and without application of the land use regulation, conducted in accordance with generally accepted forest industry practices for determining the value of timberland. Page 2 of 4ORS 195.310 - Claim for compensation - 2017 Oregon Revised Statutes 7/20/2018https://www.oregonlaws.org/ors/195.310 September 24, 2018, Meeting - Item 3