Descripción

Cities, counties, or several contiguous counties in Oregon can set up Rural Renewable Energy Development Zones. The zone can only cover territory outside of the urban growth boundary of any large city or metropolitan area. Businesses must meet certain employment and/or investment requirements to be eligible.

Commercial renewable energy property in these zones are eligible for a 3 to 5 year local property tax exemption. Eligible property includes either wind, geothermal, solar, biomass, or other unconventional forms of electricity generation, or systems that produce, distribute or store biofuels. Each zone sets a local cap for the total value of property that can qualify for the abatement, up to $250 million. Interested businesses must apply for authorization before construction or installation begins.

Depending on the zone, businesses may also be eligible for other local property tax incentives. For a current list of designated zones, see the program website listed above.