Buying or selling an Industrial business in Multnomah County
When your business sells
If you are selling or purchasing a business, or if your industrial plant has closed, it is important to contact the Assessor's Office to ensure that there are no outstanding taxes due on the personal property and machinery & equipment (equipment associated with the business) you are selling or purchasing.
Notifying the Assessor
If your business is sold or closed, complete the Business Sold section on your Real Property and/or Confidential Personal Property Return.
You must:
- give the date you sold the business.
- provide Name and Address of new owner
- indicate on the asset list which assets transferred with sale
- provide a copy of the sale document, if available
On the RP form please indicate on the form that the plant is closed or sold to another entity. Although there is no equivalent checkbox on the RP form, you may indicate the status of the business in the DBA section, and/or on any of the following pages.
If you are reporting a business sale and do not have a Real Property or Confidential Personal Property Return please complete a file an
Machinery and Personal property equipment lists are confidential in the State of Oregon. The seller must give an
Important notes regarding tax liability:
If you were in business on January 1, you are responsible for filing a Real Property and Confidential Personal Property Return and paying taxes this fall. Multnomah County does not prorate tax liability for Buyers and Sellers. This is the responsibility of the Property Owner.
Machinery & Equipment and Personal Property taxes become a lien on property of a business on July 1st or the day before the sale of the assets. For more specific information please refer to ORS 311.405.
NOTE: If you report your business has sold, but fail to provide new owner information, the County will not transfer the ownership and the account will remain your financial responsibility.
For other questions, review our frequently asked questions page.
Taxpayer Assistance
Contact the industrial appraisal team at ind@multco.us to schedule an appointment to review your business assets and see if you qualify as an industrial site. You may also leave a voice message for the industrial appraisal team by calling 503.988.0037