OAR 635-430-0410. Sale or Transfer of Exempted Riparian Lands

The purchaser of any lands enrolled in the Riparian Lands Tax Incentive Program has 120 days after recording of the land sale to retain the property tax exemption or withdraw from the program without penalty. (1) To retain the riparian tax exemption, the new owner must: (a) Agree to management provisions in the previous owner’s riparian management plan by signing an identical plan, and sign a riparian management agreement consistent with the program; or (b) Submit an amended riparian management plan to the Department for review and approval pursuant to these rules and sign a riparian management agreement consistent with the program. (2) To withdraw from the riparian tax exemption program, the new owner must provide the county assessor with a notice of request for withdrawal in compliance with ORS 308A.365.