(1) All items of tangible personal property held by the owner, or for delivery by a vendor to the owner, for personal use, benefit or enjoyment, are exempt from taxation.\n(2) The exemption provided in subsection (1) of this section does not apply to:\n(a) Any tangible personal property held by the owner, wholly or partially for use or sale in the ordinary course of a trade or business, for the production of income, or solely for investment.\n(b) Any tangible personal property required to be licensed or registered under the laws of this state.\n(c) Floating homes or boathouses, as defined in ORS 830.700.\n(d) Manufactured structures. [Amended by 1953 c.698 §7; 1969 c.648 §1; 1977 c.615 §2; 1985 c.614 §1; 1987 c.601 §5; 2003 c.655 §63; 2019 c.585 §21]
Oregon Legal Code