§ 307.022

For purposes of the property tax laws of this state, the property of a limited liability company qualifies for an exemption from ad valorem property taxation or special assessment:\n(1) If the limited liability company is wholly owned by one or more nonprofit corporations or entities whose property is exempt from taxation under ORS 307.090;\n(2) If the property, if held directly by each of the nonprofit corporation owners of the limited liability company, would qualify for the exemption or special assessment; and\n(3) Only to the least extent that the property would be granted exemption or special assessment in the hands of any of the nonprofit corporation owners of the limited liability company. [2005 c.688 §2; 2017 c.445 §1]