Multiple Unit Property Tax Exemption (MUPTE) Program Overview

Program Overview

The Multi-Unit Property Tax Exemption (MUPTE) is a tool that can move a proposed housing development to be financially feasible. MUPTE is a state-enabled program (ORS 307.600-307.637) designed to be an incentive for the development of residential properties in city centers and along transit corridors.

MUPTE allows new multi-family units (4 or more units) to be exempt from property taxes on the value of new residential construction for up to 10 years. The property continues to generate taxes for the land value during the exemption period.

Corvallis MUPTE Ordinance

Multi-Unit Property Tax Exemption (MUPTE) 

  • The owner and developer can be a for-profit entity
  • Must be at least four (4) units.
  • Rental units may be offered at market rate if affordable housing isn't one of the stated public benefits.
    • If not providing affordable housing, the property will pay 10% of its exemption into a fund to support the future affordable housing development
  • The duration of the exemption is up to 10 years (less can be granted) as long as application is approved.
  • Each application would be reviewed on a case-by-case basis with a demonstrated financial need.
  • If approved, they would receive up to a 100% exemption for the portions of the property the exemption would apply to. 
  • Each project will be required to also create either one substantial public benefit or three smaller, but impactful public benefits.

 

Eligible MUPTE Project Areas

  • Projects must be within CMU-1 Zone located north of Monroe Avenue, East of 26th Street, South of Van Buren Avenue and West of 14th Street; CMU-2; CMU-3; and RMU-20 (Note: Areas zoned RS-20 may also be re-zoned to RMU-20)

 

Contact Info: 

Christopher Jacobs
Economic Development Division
541-766-6339
christopher.jacobs@corvallisoregon.gov

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