Feasibility Study Consultant in Oregon

What makes an Oregon feasibility study different is that the lines deciding loan coverage are governed by limits that carry dates rather than by a sales tax: Oregon has no general sales or use tax [15], yet a business with more than $1 million of taxable Oregon commercial activity owes the Corporate Activity Tax (CAT) [17], the state lodging tax moves from 1.5 percent to 2.75 percent for nights beginning on or after January 1, 2027 [16], the cap on residential rent increases is reset every calendar year [23], and a property's maximum assessed value may rise no more than 3 percent a year unless the property itself changes [18]. The CAT is $250 plus 0.57 percent of taxable commercial activity above $1 million, after a 35 percent subtraction for certain business expenses, and it is owed on top of the corporate income tax [17]. The rent cap was 9.5 percent for 2026 and is 10 percent for 2027 [23]. Property tax falls on the lesser of maximum assessed value and real market value, while the constitutional limits that compress a bill are measured against real market value [18]. Demand, meanwhile, moves slowly and depends on newcomers: Oregon had 4,273,586 residents on July 1, 2025, 0.9 percent more than its April 2020 estimates base [1], and the state economist expects growth of only 0.4 percent a year from 2025 to 2035 and, with a fertility rate of 1.4 children per woman, says long-term growth relies on net migration [24]. An Oregon study therefore states which year's rate or limit each line uses, carries the result into the debt service coverage ratio (DSCR) for the year the lender tests, and shows what moves when the calendar turns. The page runs in that order: the lender's questions; the demand base and the state's own forecasts; the twelve cities over 50,000 people and the USDA rural test [7][11]; the four large metro areas; the agency rules behind each asset family; three illustrative models; and the offices, records and scope drivers behind a finished Oregon study.

What must a feasibility study prove to an Oregon lender?

An Oregon lender needs a projection whose net operating income covers debt service in the year each rate and limit actually applies, with lodging taxes held outside revenue, the CAT booked as an expense once commercial activity passes $1 million, and rent growth kept inside the cap for each lease year [16][17][23]. What lenders require in every state, from bank examiners to SBA and USDA, is collected in FSC's guide to lender requirements, and the qualities that let a reviewer rely on a report are set out in what makes a study bankable. This page covers only what Oregon adds.

At the federal level, USDA requires an independent qualified consultant's study for a Business and Industry guarantee over $1,000,000 to a new business [12], and SBA may request one under SOP 50 10 8.1 [13].

Seven Oregon questions belong in every study here, and each one has a dated answer from a state agency or a local government.

• Which state lodging rate each night carries. Stays ending on or before December 31, 2026 carry 1.5 percent; nights beginning on or after January 1, 2027 carry 2.75 percent under House Bill 4134, and a stay that crosses the date is charged night by night [16]. Cities and counties set their own rates on top [16]; Portland's city rate is 6 percent and Clackamas County's is 6 percent [58][61].
• Whether the operating company owes the CAT. Only a taxpayer with more than $1 million of taxable Oregon commercial activity has a payment obligation, computed as $250 plus 0.57 percent of the excess once the 35 percent subtraction is taken [17]. Below the line the tax is nothing; above it the tax follows receipts, not profit.
• Which rent cap governs each renewal. The Office of Economic Analysis (OEA) publishes the cap every year: 9.5 percent for 2026 and 10 percent for 2027, worked out under ORS 90.324 as the lesser of 10 percent or 7 percent plus CPI [23].
• What the assessor will tax. Value is fixed as of January 1, maximum assessed value grows by no more than 3 percent a year, and tax is charged on the lesser of that figure and real market value [18]. A new structure or an improvement is not held to the 3 percent limit [18].
• Which agency must approve the operation. The Oregon Liquor and Cannabis Commission (OLCC) takes a liquor application only after the city or county completes its recommendation [35]; Local Public Health Authorities license restaurants and inspect hotels [30][29]; the Department of Environmental Quality (DEQ) holds proof of tank financial responsibility [37]; the Oregon Health Authority (OHA) runs certificate of need [31]; the Oregon Department of Human Services (ODHS) licenses community-based care [40]; the Department of Early Learning and Care (DELC) certifies child care centers [42]; and the Department of State Lands (DSL) leases state-owned waterways [48].
• Which incentives count, and until when. The Department of Revenue lists over 100 property tax exemption programs [21]; an enterprise zone exemption runs up to three or five years in a standard zone and up to 15 years in a rural zone [21], so a projection shows the year the exemption ends and the tax that starts the year after.
• Which SBA office serves the county. The Portland District Office serves 30 Oregon counties, and the Boise District Office serves the easternmost six [14].

A line that cannot be traced to one of these sources, with its date, is not ready for review. Coverage on a specific projection can be tested in FSC's DSCR and debt yield calculator; for an SBA loan, the SBA DSCR calculator sets the two policy editions side by side. A sponsor who has not settled on a program can start with the lender fit finder and the program pages for SBA, USDA and conventional loans, and the SBA and conventional comparison explains what a report must add when the lender changes.

What does Oregon's demand base look like, and how should a study read it?

Oregon's demand base is 4,273,586 residents living in 1,745,361 households [1][3], and the facts about it that matter most for a study are that it grows slowly, that arrivals from abroad now carry more of that growth than arrivals from other states, and that more than a third of households rent in a state that caps yearly rent increases [1][3][23]. Table 1 sets each Census Bureau figure beside the use an Oregon study makes of it.

Table 1. Census figures for Oregon and how a study uses each

Source: Census Bureau Vintage 2025 state totals [1] and state age file [9]; the 2025 building permits survey, state annual file [5]; ACS 2025 1-year tables for income [2], tenure [3] and gross rent [4]; the cap and the care references are OEA's [23] and OHA's [31], and the sales tax note is the Department of Revenue's [15]. FSC computed the change, the shares and the rent ratio.

Three things in Table 1 shape Oregon studies. The first is thin growth: the state added 36,304 residents in a little over five years [1], while it authorized 14,839 housing units in calendar 2025 alone [5]. In the latest year Oregon authorized about 1.80 housing units for each resident it added; the permit count covers calendar 2025 and the population change the year to July 1, 2025, so the ratio is a signal, not a measurement [5][1]. A housing or retail study cannot lean on statewide growth to fill new space; it has to find demand in its own trade area. The second is a large rental base under a cap: 644,001 renter households, 36.9 percent of the total, pay a median gross rent of $1,629 a month [3][4]. Over a year that is $19,548, or 22.5 percent of the median household income of $86,953 [4][2]; the ratio sets a median rent against the income of all households, renters and owners together, so it screens a market rather than measuring affordability. The third is age: 21.0 percent of residents were 65 or older on July 1, 2025 [9], the population behind the care projects whose approvals are described further down.

The permit mix matters for the same reason. Of the 14,839 units authorized in 2025, 9,215 were in one-unit buildings and 4,925 in buildings of five or more, leaving 699 in two- to four-unit buildings [5]. A multifamily study counts the 4,925 as competing supply only after it locates them [5]; the state total says nothing about which submarket receives them.

Table 2. Where Oregon's growth came from, five years to July 2025

Source: state population totals in the Census Bureau's Vintage 2025 release [1]; the remainder in each year and the five-year sums are FSC arithmetic.

Over the five years to July 2025, Oregon gained 30,042 residents while losing 6,154 to other states on balance and gaining 56,559 from abroad [1]. The remainder, natural change together with the Census Bureau's residual, was negative in every year and came to -20,363 [1]. Without arrivals from other countries the state would have shrunk. The state economist reads the same pattern: Oregon's total fertility rate of 1.4 children per woman sits well below the replacement level of 2.1, so long-term growth relies on net migration [24]. International migration then fell from +20,580 in the year to July 2024 to +9,636 in the year to July 2025, a drop of 53.2 percent [1]. A demand case in Oregon therefore says which migration year its growth rate rests on and shows the result if arrivals stay at the lower level.

The state's own demographers publish figures that differ from the Census Bureau's, and a study has to say which it uses. OEA's September 2026 forecast reaches 4.494 million people in 2035, an average of 0.4 percent a year from 2025 [24]. OEA reports growth of 1.4 percent between the 2020 Census and its 2025 estimate, with county results running from -1.3 percent in Multnomah County at the low end to Crook County at the high end [24]; the Census Bureau's own series shows 0.9 percent for the state and -2.5 percent for Multnomah County to July 2025 [1][6]. Both start from the same April 2020 level, 4.237 million in OEA's text and 4,237,282 in the Census estimates base [24][1]; they part ways in how each estimates the years since. County and urban growth boundary forecasts come from the Portland State University Population Research Center (PRC), which covers each region once in a four-year cycle that now runs from 2026 to 2029 [54].

Table 3. State and university population figures an Oregon study may cite

Source: OEA, Oregon Economic and Revenue Forecast, September 2026 [24]; PRC forecast program page [54] and county forecast reports for Lane [55], Marion [56] and Deschutes [57]; Census Bureau state and county totals for the comparisons [1][6].

County Business Patterns counts the establishments already operating in eight industries a feasibility study often covers [8], and Table 4 sets each count beside the Oregon rule a new entrant in that industry meets. A count shows how many competitors to find, not their capacity.

Table 4. Oregon establishments in selected industries, 2023, and the state rule each meets

Source: County Business Patterns for 2023, the Census Bureau's state file [8]; rules from the Department of Revenue [16][17][21], OHA [30], OLCC [35], DEQ [37] and ODHS [40].

Two counts stand out against Oregon's rules. The 1,090 assisted living establishments [8] serve a state in which 21.0 percent of residents are 65 or older [9], and each one is licensed by ODHS under OAR chapter 411, division 54 [40]. The 11,224 food service and drinking places [8] each hold a restaurant license from a Local Public Health Authority and, when they pour alcohol, an OLCC license that starts with the city or county's recommendation [30][35].

Which Oregon cities top 50,000 people, and how does USDA's rural definition treat them?

Twelve Oregon cities counted more than 50,000 people on July 1, 2025 [7][11], and USDA's rural definition counts town size by the decennial census instead [11]. Table 5 gives each city's April 2020 base, its July 2025 estimate and the change between them.

Table 5. The twelve Oregon cities above 50,000 people

Source: subcounty population estimates, Census Bureau Vintage 2025 [7]; FSC computed each change.

Together the twelve held 1,747,576 residents, 40.9 percent of the state, yet they grew by only 5,651 people, or 0.3 percent, after April 2020 [7][1]. Portland explains the gap. It lost 17,357 residents, 2.7 percent, and without it the other eleven grew 2.1 percent, adding 23,008 [7]. The steepest percentage gains were Bend's 8.2 percent, Tigard's 5.7 percent and Hillsboro's 4.4 percent, and in raw numbers Bend's 8,110 new residents led Salem's 6,263 [7]. Gresham fell 2.4 percent and Springfield 0.7 percent [7]. Portland's own annual financial report gives the city 635,749 residents on July 1, 2024 [59], 640 more than the Census Bureau's July 2025 estimate [7]; the two figures rest on different dates and methods, and a study names the one it relies on.

A city figure matters in Oregon because the local layer of tax is set city by city and county by county. The local lodging tax rate is set by the local government [16], and Portland's 6 percent city tax applies to rent charged inside the city [58]. Two hotels in the same metro can therefore carry different local rates, and a study confirms the rate in force for its opening year with the government that levies it rather than borrowing a neighbor's.

Under 7 CFR 5001.3, USDA's rural area excludes any city or town of more than 50,000 inhabitants, counted by the latest decennial census, and the urbanized area contiguous and adjacent to it [11]. All twelve cities in Table 5 already exceeded that size in the April 2020 estimates base [7], so for a nearby site the open question is adjacency, which the Rural Development Property Eligibility Map marks non-eligible, and approval cannot rest on meeting the test later [11]. This page makes no eligibility finding.

What separates Oregon's four large metro areas in a study?

Direction separates them more than size does: the Bend metro grew 7.6 percent after April 2020 while Eugene-Springfield shrank 0.4 percent, and Deschutes County's average tax is $6.98 per $1,000 of Measure 5 value against $12.03 in Multnomah County [10][22]. The four held 3,091,268 Oregon residents on July 1, 2025, 72.3 percent of the state, leaving 1,182,318 outside them [10][1]. Three lie wholly in Oregon; the Portland-Vancouver-Hillsboro metro reaches into Washington, and only its five Oregon counties, with 1,997,494 residents or 78.6 percent of the metro, are in scope here [10].

Table 6. The four metro areas with Oregon counties, side by side

Source: Census Bureau Vintage 2025 CBSA file [10]; ACS 2025 1-year metro rows for income [2], tenure [3] and gross rent [4]. FSC computed the remainder, the rent ratio and the Oregon totals. Portland figures in every row but the last include the metro's Washington counties.

Property tax is where the four differ most for a projection. Table 7 gives the Department of Revenue's average effective rates for the main county of each metro and for the two other large Portland-area counties.

Table 7. Average effective property tax rates and totals, FY 2025-26

Source: Department of Revenue, FY 2025-26 Oregon Property Tax Statistics Report, average effective tax rates and county totals [22]. FSC computed the share by dividing the first rate by the second.

The two rates measure the same tax against two bases. The first divides it by Measure 5 value, the market-based figure on which the constitutional limits operate [22][18]; the second divides it by assessed value, which the 3 percent annual limit on maximum assessed value holds down [18]. One rate over the other therefore shows how far assessed value sits below Measure 5 value on average: 41.5 percent in Deschutes County, the lowest of the six, against 58.4 percent in Washington County [22]. Statewide the ratio of assessed to real market value was 0.536 in FY 2025-26 [22]. A buyer's tax depends on the parcel's own assessed value, not on the price paid, so the assessor's record is the input and the county averages only bracket the result. The three Portland-area counties hold 54 percent of Oregon's residential property value and pay 54 percent of its property tax [22], about $5.46 billion between them in FY 2025-26 [22].

Table 8. Travel spending by county, millions of dollars

Source: Travel Oregon, The Economic Impact of Travel in Oregon, 2025, county direct travel spending as published, with the report's own 2024 to 2025 change [53]. FSC computed the change against 2019.

The travel series shows how unevenly the visitor economy came back [53]. Multnomah County's $4,251.1 million in 2025 was still 3.0 percent below 2019 and 0.5 percent below 2024, while Lane, Marion and Deschutes counties ran 25.6 to 33.5 percent above 2019 [53]. The six counties together account for $9,049.8 million, 62.0 percent of the $14.6 billion spent on travel in Oregon in 2025 [53][52]. Dividing 2025 spending by July 2025 residents gives a rough measure of how much a county leans on visitors: about $5,345 per resident in Multnomah County and $5,224 in Deschutes County, against $3,641 in Lane County and $1,641 in Marion County [53][10].

Portland-Vancouver-Hillsboro: the five Oregon counties

The Oregon side of this metro held 1,997,494 people on July 1, 2025: Multnomah County 795,391, Washington County 611,708, Clackamas County 426,280, Yamhill County 110,024 and Columbia County 54,091 [10]. The other 544,788 residents, 21.4 percent of the metro, live in Washington State [10]. Metro-wide figures therefore blend in Washington households: the median household income of $99,767, the 38.9 percent renter share and the $1,799 median gross rent [2][3][4] describe the whole metro rather than its Oregon counties. The metro gained 11,037 people in the year to July 2025, nearly all of it from international migration of +7,585 and the remainder, with net domestic migration of only +60 [10].

Inside Oregon the growth split by county. Since the April 2020 base, Washington County grew 1.9 percent and Clackamas County 1.2 percent, while Multnomah County lost 2.5 percent [6]. Three official sources give three Multnomah figures: the Census Bureau's 795,391 for July 2025 [6], the 801,557 residents in the county's own annual report [60], and OEA's estimate of a 1.3 percent loss from the 2020 Census [24]. The first two differ by 6,166 people [6][60], so a Portland study names its series and keeps to it from the trade area to the absorption schedule.

Multnomah County carries the highest average property tax of the six counties in Table 7, $12.03 per $1,000 of Measure 5 value and $23.63 per $1,000 of assessed value [22]. Its roll is not concentrated. The largest principal taxpayer, an electric utility, held $886,258 thousand of real property assessed value, 0.88 percent of the county's $100,172,072 thousand total, and the Port of Portland ranked third at $806,553 thousand [60]. Within the city, the Port of Portland led at $800,013,140, 0.97 percent of the city total, with another electric utility second at $790,313,440, 0.96 percent, and an airline fourth at $362,298,200, 0.44 percent [59]. With no single owner carrying the base, a Portland property tax line depends on the levies that reach the parcel and on its own assessed value.

Both financial reports list the same institution first among principal employers, a health sciences university: 20,882 employees in the city report for 2025 and 20,947 in the county report for fiscal 2024-2025 [59][60]. Each lists a second employer at 20,000, and the city report places a health system third at 19,221 [59][60]. Portland Community College serves over 50,000 full-time and part-time students [64]. For a medical office, senior housing or hotel study, these anchors are demand drivers to name with their counts and sources, never to assume.

The Port of Portland operates three airports, three marine terminals and six business parks [63]. One terminal covers 262 acres and handles autos, soda ash, liquid bulks, breakbulk and high and heavy cargo; another covers 419 acres with an on-dock railyard for autos, containers and breakbulk [62]. Logistics and industrial studies near the terminals start from these facilities, and any project with more than $1 million of real property improvements in an industrial use is valued with the Department of Revenue's help [20].

Visitors spent $4,251.1 million in Multnomah County in 2025, 29.1 percent of the state's travel spending, and local travel-generated tax revenue there reached $123.5 million [53][52]. Hotels, motels and short-term rentals took 74 percent of overnight visitor spending in the county against 68 percent statewide [53], so a lodging rate change reaches a larger share of visitor spending here than in Oregon as a whole. The city charges each transient 6 percent of the rent under chapter 6.04 of its code, as amended effective January 1, 2025, and exempts an occupant who stays more than 30 successive calendar days [58]. Clackamas County requires operators and intermediaries to register and collect 6 percent from occupants [61]. Both sit on top of the state's 1.5 percent, which becomes 2.75 percent for nights beginning on or after January 1, 2027 [16]. Multnomah County's and Washington County's own lodging rates fall outside the material behind this page; a study there gets them from the county before stating what a guest pays.

What the figures mean by asset type:

• Hotels. Multnomah County's travel spending is still below 2019 [53] and the state rate rises in 2027 [16], so a Portland hotel study shows the guest's price under both state rates and supports any return to 2019 volume with evidence rather than assuming it.
• Apartments. Multnomah County lost residents while Washington and Clackamas counties grew [6], and renewals follow OEA's cap where it applies, 10 percent for 2027 [23]; the county a site sits in changes the growth case more than the metro average does.
• Industrial and logistics. The Port's terminals and business parks anchor demand [62][63], and state-appraised industrial property files its return by March 15 with no extensions [20].
• Retail and restaurants. No sales tax is added at the register [15], so menu and shelf prices are the customer's whole price, and a restaurant completes local plan review before it builds [30].

Salem: Marion and Polk counties

The Salem metro reached 445,814 residents on July 1, 2025, 2.9 percent above its April 2020 base, all of them in Oregon: Marion County 355,777 and Polk County 90,037 [10]. Its gain of 2,391 in the year to July 2025 came mainly from international migration of +1,363, with domestic migration adding +511 [10]. Median household income is $85,726, 36.1 percent of households rent, and the median gross rent of $1,599 a month equals 22.4 percent of median income over a year [2][3][4]. Salem city grew 3.6 percent to 181,779, adding 6,263 residents [7].

Marion County's average property tax is $9.54 per $1,000 of Measure 5 value and $17.38 per $1,000 of assessed value, and the county imposed $607,949 thousand of tax on $63,756,395 thousand of Measure 5 value in FY 2025-26 [22]. Visitors spent $584.0 million there in 2025, up 4.2 percent in the year, the fastest gain among the six counties in Table 8, and 28.4 percent above 2019 [53]. At about $1,641 per resident, Marion's visitor spending is the lowest of the six relative to its population, level with Washington and Clackamas counties and far below Multnomah and Deschutes [53][10], so a Salem hotel study rests on the year's growth and on the specific demand generators it can document.

PRC's 2021 Marion County forecast reaches 416,327 people in 2045 and 463,420 in 2071 [56]. The 2045 figure is 17.0 percent above the Census Bureau's July 2025 county estimate, about 0.79 percent a year over twenty years [56][10]. A study that leans on it states the 2021 vintage, since the current 2026 to 2029 cycle covers each region once [54].

What the figures mean by asset type:

• Apartments. Steady growth and a renter share near the state's [10][3] support a measured lease-up, with each renewal held to the cap for its year, 9.5 percent for 2026 and 10 percent for 2027 [23].
• Hotels. The fastest travel growth among the six counties [53] meets a state rate that rises in 2027 [16]; the local rate is set by the city or county [16] and is confirmed for the site.
• Restaurants and services. A business with more than $1 million of taxable commercial activity owes the CAT [17]; Illustrative model C, a Salem restaurant and bar, shows what that and an OLCC license do to DSCR [33].

Eugene-Springfield: Lane County

Eugene-Springfield is the only one of the four metros smaller than in 2020: 381,584 residents on July 1, 2025, 0.4 percent below the April 2020 base, after a loss of 497 in the latest year [10]. Net migration was positive, +522 domestic and +326 international, so the decline came from a remainder of -1,345, natural change and the Census residual [10]. Eugene city grew 0.7 percent and Springfield city fell 0.7 percent [7]. The metro has the lowest median household income of the four, $74,401, the highest renter share, 41.5 percent, and the highest ratio of rent to income: the median gross rent of $1,475 a month comes to 23.8 percent of median income over a year [2][3][4].

PRC's 2021 Lane County forecast expected average annual growth of 0.8 percent from 2021 to 2025 and a population of 490,958 by 2070 [55]. The Census Bureau's series has the metro, which is Lane County alone, below its 2020 level instead [10]. A study that applied the forecast's near-term pace would overstate demand, so it cites the 2021 forecast for the long run only and tests its own trade area against the current estimates.

Lane County's average property tax is $8.44 per $1,000 of Measure 5 value and $16.45 per $1,000 of assessed value, with $739,896 thousand imposed on $87,659,683 thousand of Measure 5 value [22]. Visitors spent $1,389.4 million in the county in 2025, more than in Washington County, 0.9 percent above 2024 and 33.5 percent above 2019, the strongest recovery against 2019 of the six counties [53].

What the figures mean by asset type:

• Apartments. The highest renter share and the lowest income of the four metros [3][2] mean rent growth meets two ceilings, OEA's cap [23] and what local incomes can carry, and a study shows both.
• Hotels and short-term rentals. Visitor spending well above 2019 [53] supports lodging demand, and the state tax applies to houses, cabins, condominiums and apartments rented for short stays as well as to hotels [16].
• Retail and services. A shrinking population [10] puts the burden of proof on capture from competitors rather than on new households.

Bend: Deschutes, Crook and Jefferson counties

Bend is the fastest-growing of the four: 266,376 residents on July 1, 2025, 7.6 percent above the April 2020 base, with Deschutes County at 213,072, Crook County at 27,564 and Jefferson County at 25,740 [10]. Of the 2,169 residents added in the latest year, 2,026, or 93.4 percent, came from net domestic migration [10], the reverse of the state pattern in Table 2. Bend city grew 8.2 percent to 107,342, the fastest of the twelve cities in Table 5 [7]. OEA lists Deschutes, Jefferson and Crook among the counties that grew faster than 3 percent in recent years [24]. Income is high and renting is uncommon: median household income is $96,705, only 27.0 percent of households are renters, and the median gross rent runs to $1,754 a month [2][3][4].

Deschutes County is the clearest case of the assessment limit at work. Its average tax is $6.98 per $1,000 of Measure 5 value, the lowest of the six counties, but $16.80 per $1,000 of assessed value, because assessed value there averages 41.5 percent of Measure 5 value [22]. Its Measure 5 value of $85,330,145 thousand is close to Lane County's $87,659,683 thousand, although Deschutes has little more than half of Lane's residents [22][10]. A buyer of a Bend property who multiplies the purchase price by a market-value rate can misstate tax in either direction; the parcel's assessed value decides.

PRC's 2022 forecast puts Deschutes County above 392,000 people by 2072, nearly an 89 percent increase, with average annual growth of at least 1.1 percent over the 50-year horizon [57]. PRC published final Region 1 results, which cover Deschutes, Crook and Jefferson counties, in June 2026 [54], so a Bend study uses that release in place of the 2022 figures once it obtains it. Visitors spent $1,113.1 million in Deschutes County in 2025, 25.6 percent above 2019 and 1.3 percent above 2024, about $5,224 per resident [53][10].

What the figures mean by asset type:

• Apartments. Fast growth and a low renter share [10][3] can support new rentals, but renewals are capped like everywhere else in the state, and Illustrative model B shows the cap against a Bend sponsor's rent plan [23].
• Lodging, cabins and glamping. Visitor spending per resident close to Multnomah County's [53][10] makes lodging central; the state tax covers cabins, lodges, guest ranches and houses as well as RV and tent spaces [16].
• RV parks. Recreational parks are inspected twice a year by the Local Public Health Authority [29], and their spaces carry the state lodging tax [16].

Which state rules reshape the projection for each Oregon asset family?

Every family answers to its own Oregon agency and its own calendar: lodging to the Department of Revenue's rate change on January 1, 2027, housing to OEA's yearly cap, long-term care to OHA need rules that are temporary until December 21, 2026, and marinas to DSL fee changes on July 1, 2027 [16][23][32][47]. The sections below give the rules for each family and the projection line each one changes.

Lodging: a rate change on a known date

The state lodging tax is 1.5 percent of the amount charged for occupancy for stays ending on or before December 31, 2026, and 2.75 percent for nights beginning on or after January 1, 2027, after the 2026 Legislature passed House Bill 4134 [16]. The added 1.25 percent must appear on receipts as a separate nature conservation fee, though the Department says it will not penalize a wrong label [16]. The revenue funds the Oregon Tourism Commission and nature conservation work [16]. The statute is ORS 320.300 to 320.365 [16].

The base is broad. Transient lodging includes lodges, guest ranches, cabins, condominiums, apartments, duplexes and houses, and spaces used for RV parking or for a tent [16]. Charges a guest cannot decline, such as cleaning, pet, extra bed, booking and processing fees, are taxed with the room [16]. A guest who stays 30 or more consecutive days at one facility is exempt, and once a stay reaches 30 days the whole stay is outside the state tax [16]. A facility rented for fewer than 30 days in a calendar year is exempt, except for rentals made through intermediaries since January 1, 2020 [16]. Providers and intermediaries may keep 5 percent of the state tax they collect to cover their costs, and returns with payment are due by the last day of the month after each quarter [16].

Local taxes stack on the state's. The city or county sets its own rate and may have the Department administer it [16]. Portland charges 6 percent of rent and exempts stays of more than 30 successive calendar days [58]; Clackamas County charges 6 percent [61]. The two long-stay thresholds are worded differently, 30 or more consecutive days for the state and more than 30 successive days for Portland [16][58], so an extended-stay study checks each one separately.

Health and safety rules come from OHA and the local authority. Hotels and motels are inspected by the Local Public Health Authority for safety and sanitation, and recreational parks are inspected twice a year [29]. OHA filed reorganized aquatic facility rules in OAR 333-060 and 333-062 on April 1, 2025, requires adult supervision of children under 14 in pools without lifeguards, and has a rulemaking on lifeguarded pool signage with a hearing on November 17, 2026 [29].

Table 9. Oregon lodging rules mapped to the lines they move

Source: Department of Revenue transient lodging tax page [16]; Portland City Code chapter 6.04 [58]; Clackamas County transient lodging tax page [61]; OHA pools and tourist facilities page [29].

For a projection, three Oregon details carry weight. A hotel opening in 2026 has a first partial year at 1.5 percent and later years at 2.75 percent under the law as it stands, so its stabilized year carries the 2027 rate [16]. The 5 percent collection allowance is the operator's revenue, small but real, and it grows with the rate [16]. The breadth of the base means a campground, glamping site or vacation rental collects the same state tax as a hotel [16], so a study of any of them prices the guest's stay with the state rate for each year and the local rate for the site.

Food and beverage: OLCC licenses and local sign-off

A food and beverage study in Oregon starts with two local steps. A restaurant license application goes to the Local Public Health Authority, and a facility being built or remodeled completes plan review locally before construction [30]. An OLCC annual license needs the city or county to complete its section of the application before the applicant files with the OLCC [35]. Neither step appears in a pro forma as a large cost, but both set the opening date the projection assumes, and Illustrative model C below carries the license fee and the CAT through a Salem restaurant's DSCR.

The OLCC's fee table, revised November 15, 2024, sets the annual fees in Table 10 [33]. A brewery-public house is both a supplier and a retailer under ORS 471.200 [34], and a consumption designation on a brewery license allows patrons to drink on the premises, tastings included [33]. A product containing more than one-half of one percent alcohol by volume is an alcoholic beverage under ORS 471.001 [34]. Makers of malt beverages, wine and cider also pay the privilege tax under chapter 473 of the Oregon Revised Statutes, with returns due on the 20th of the month after each reporting period [36].

Table 10. OLCC licenses and annual fees a food and beverage study records

Source: OLCC license and permit types table, revised November 15, 2024 [33]; OLCC alcohol manufacturing and wholesaling page [34]; OLCC liquor licensing page [35].

A brewery or winery reaches one more Oregon rule as it grows. The Department of Revenue's definition of industrial property includes breweries, wineries and bottling operations, and it helps counties value industrial property with more than $1 million of real property improvements, which then files an industrial property return by March 15 [20]. A production brewery's property tax line can therefore rest on a valuation the Department helps the county prepare, and the study notes which route applies. Because Oregon has no sales tax [15], menu prices are what the customer pays, and a restaurant above $1 million of taxable commercial activity owes the CAT on its receipts [17].

Fuel and auto: tank financial responsibility and release deadlines

DEQ's underground storage tank program covers federally regulated tanks, typically at gas stations or connected to emergency generators, and not home heating oil tanks [38]. Every regulated tank in operation or temporary closure needs a form of financial responsibility, the proof must be renewed within 30 days after the previous proof expires, and an owner relying on pollution liability insurance files the certificate of insurance with a tanks schedule [37]. DEQ cites ORS 466.706 to 466.845, 466.994 and 466.995 and OAR chapter 340, divisions 150 and 151, for these tanks [38].

If a tank leaks, the clock is short. Table 11 sets out the deadlines.

Table 11. DEQ tank requirements and release deadlines

Source: DEQ financial responsibility page [37]; DEQ tank rules page [38]; DEQ leaking underground storage tank page [39].

On the tax side, store sales carry no sales tax [15], and the CAT turns on how much of the operator's revenue counts as taxable Oregon commercial activity, which the Department of Revenue defines [17]. A fuel study therefore confirms the treatment of each revenue stream, fuel, store, car wash and any food service, with the Department before it applies the $1 million threshold and the 0.57 percent rate, rather than running the rate across total sales [17]. Oregon had 681 gasoline stations with convenience stores and 244 car washes in 2023 [8].

Housing: the yearly cap and manufactured home parks

Oregon caps residential rent increases by statute. Under ORS 90.324 the cap is the lesser of 10 percent or 7 percent plus CPI, OEA publishes the result each year, and it was 9.5 percent for 2026 and is 10 percent for 2027 [23]. For tenancies subject to ORS 90.600(1) in facilities with more than 30 spaces, OEA states the cap as 6 percent [23], so a manufactured home community study confirms which provision its space leases fall under before it picks a growth rate. Because the cap after 2027 depends on CPI, a study states the years it knows and labels any later rate as an assumption.

Manufactured home parks carry Oregon-specific exit costs. If a park closes, ORS 90.645 requires payment per space of $6,000 for a single-wide, $8,000 for a double-wide and $10,000 for a triple-wide or larger home, amounts set in 2016 and recalculated each year for inflation with CPI [27]. Closure requirements sit in ORS 90.645, 90.650, 90.655 and 90.671 [27]. A manufactured home owner must lease a space in a manufactured dwelling facility unless the owner buys land [28], and sales of manufactured and floating homes fall under ORS 90.675 and 90.680 [28].

State housing finance adds tools that change a capital stack. Oregon Housing and Community Services (OHCS) runs the General Housing Account Program to expand supply for low and very low-income households [25]; LIFT Rental housing must serve families earning at or below 60 percent of county area median income [26]; and OHCS loan guarantees may cover up to 25 percent of a loan's original principal [26].

Table 12. Oregon housing rules mapped to the lines they move

Source: OEA rent stabilization page [23]; OHCS park and marina closings page [27] and manufactured home sales page [28]; OHCS grants [25] and bond financing pages [26]; Department of Revenue transient lodging tax page [16].

Oregon authorized 4,925 units in buildings of five or more units in 2025 [5], and 644,001 households rent [3]. A multifamily study counts the first figure against the second in its own submarket and runs each renewal through the cap for its year; Illustrative model B shows how much a sponsor's plan can move once the cap applies.

Care: certificate of need, community-based care and child care ratios

Certificate of need decides whether some care projects can proceed at all. Under ORS 442.315(1), a new hospital or a new skilled nursing or intermediate care service or facility not excluded under ORS 441.065 must obtain a certificate of need, a program Oregon began in 1971 [31]. OAR chapter 333, division 550 explains which projects are reviewed [31]. The long-term care need rules are unsettled: temporary amendments to division 610, on demonstrating need for long-term care services, run from August 14, 2026 through December 21, 2026, and OHA says earlier temporary rules are likely to be held invalid after a petition for repeal received July 22, 2026, and that it will begin permanent rulemaking [32]. A nursing facility study filed in this window states which rule it was prepared under and what changes if the permanent rule differs.

Assisted living, residential care and memory care are community-based care settings licensed by ODHS [40]. OAR chapter 411, division 54 sets the general licensing standards for them, including the requirements for new construction [40]. ODHS's Safety, Oversight and Quality unit also licenses adult foster homes and nursing facilities [41]. With 21.0 percent of Oregonians aged 65 or older [9] and 1,090 assisted living establishments already operating [8], an assisted living study shows the license path and the capture it needs from a market that is already served.

Child care centers certified after July 15, 2001 staff to Table 3A of DELC's center rules [42]. Infants from 6 weeks to 24 months need one staff member for every four children in groups of no more than eight; children from 24 to 36 months, one for five in groups of ten; children from 36 months to school age, one for ten in groups of twenty; and school-age children, one for fifteen in groups of thirty [42]. A certified family child care home needs at least 35 square feet of indoor activity area per child [43]. Table 13 applies the center ratios to an assumed enrollment.

Table 13. Staff in ratio for an assumed child care enrollment under Table 3A

Source: DELC rules for certified child care centers, Table 3A [42]. Enrollment is an FSC assumption; staff and groups are FSC arithmetic, before breaks, shifts and hours of operation.

Infants make up 15.1 percent of the assumed enrollment but need 28.6 percent of the staff in ratio [42]. Because each child in a younger band adds more required staff than a child in an older one, the age mix a center plans for in Oregon sets its payroll more than its total enrollment does, and a study shows staffing by age band before it shows DSCR.

Education: a charter is a contract with a sponsor

Under Oregon law, a public charter school is a separate legal entity operating under a binding agreement with a sponsor, which is the local board of education [44]. The Department of Education's list of governing statutes shows what a lender reads in the file: ORS 338.065 on the terms and form of the charter, renewal and appeal; ORS 338.075 on review of a school district board's decision and sponsorship by the State Board of Education; ORS 338.045 on proposal requirements, technical assistance and buildings; and ORS 338.155 on State School Fund distributions and grants to charter schools [45]. The Department's rules are in OAR 581-026 [45].

For a charter school facility loan, the study sets the charter's term and renewal date beside the loan's maturity, because the school's right to operate, and therefore its revenue, rests on that agreement with its sponsor [44][45]. The Department's list gives the statute's title, not the term, so the study reads the term from the charter itself.

Recreation: waterway leases, vessel limits and campgrounds

The public owns certain rivers, lakes and other waters that Oregon acquired at statehood, and DSL manages leases, easements, dock registrations and other paid uses of their beds and banks [47]. A waterway lease is required for every commercial and industrial activity on those waters, for-profit or nonprofit, marinas included, and for docks and floating homes of 2,500 sq ft or more and recreational cabins of 1,500 sq ft or more [48]. Most new uses go through a 30-day public review, insurance requirements changed for new and renewing leases on February 15, 2026, and the revenue goes to the Common School Fund [48].

Fees change on a known date. From July 1, 2027, authorization requirements, application fees and lease compensation rates change, compensation is calculated by a single method instead of three, and each lease carries an annual $100 surcharge for the Submerged Lands Enhancement Fund [47][49]. That fund requires a 25 percent match for projects DSL does not initiate [50].

Table 14. DSL waterway rules and the dates a marina study carries

Source: DSL Oregon-owned waterways page [47], waterway use authorizations page [48] and July 1, 2027 fee announcement [49]; DSL abandoned and derelict vessels page [46].

Vessel rules matter to marina occupancy. A recreational vessel may not stay in one location on Oregon-owned waterways for more than 30 consecutive days, and a commercial vessel for more than 14 [46]; HB 5029 in 2023 appropriated $18.8 million one time to the Abandoned and Derelict Vessel Fund [46]. For a marina study, these limits bear on demand for long-term slips, while the lease, its insurance terms and the surcharge are fixed costs dated to July 1, 2027 [49]. Closure rules for parks and marinas sit in ORS 90.645, 90.650, 90.655 and 90.671, as OHCS lists them [27].

Campgrounds and RV parks meet the lodging rules: RV and tent spaces are transient lodging under the state tax [16], and recreational parks are inspected twice a year [29]. Oregon had 141 RV parks and campgrounds in 2023 [8]. The state park system's figures are old but official: combined day-use and camping attendance of 54,421,472 in 2017-2018, and a $1.1 billion contribution to the state economy from park visitors in 2016 [51]. A study can cite them for scale but not for current demand.

Industrial: state appraisal and the enterprise zone

Industrial property in Oregon can be valued by a different hand. The Department of Revenue helps counties appraise industrial property with more than $1 million of real property improvement value, its definition includes refineries, breweries, wineries, bottling operations and machine shops, and state-appraised taxpayers file an industrial property return postmarked by March 15 each year, with no extensions [20]. Appeals of Department-appraised industrial property go to the Oregon Tax Court Magistrate Division by December 31, or the next business day [19].

Two exemptions change the early years of a projection. The enterprise zone exemption covers new or remodeled property, business personal property and machinery and equipment for qualifying commercial and industrial businesses, for up to three or five years in a standard zone and up to 15 years in a rural zone [21]. Qualified commercial construction in progress on January 1 may be exempt as a commercial facility under construction [21]. A study shows DSCR during the exemption and in the first full taxable year after it, because the second figure is the one that repays the loan. The Port of Portland's two large terminals, of 262 and 419 acres, and its six business parks [62][63], along with 275 warehousing and storage establishments statewide [8], frame logistics demand.

Where do Oregon's taxes, rent cap and assessment limits show up in DSCR?

They show up in four lines: the CAT is an operating expense measured on receipts above $1 million, lodging taxes are collected for others and stay out of revenue except for the 5 percent an operator may keep, the rent cap limits how fast rental income can climb, and property tax follows assessed value rather than the price paid [17][16][23][18]. Property tax comes first because every model carries it.

Oregon values property as of January 1 each year and taxes the lesser of maximum assessed value and real market value [18]. Maximum assessed value can rise by no more than 3 percent a year unless the property changes, and the limit does not apply to a new structure, an improvement to an existing one, or a subdivision or partition [18]. Minor construction adding less than $18,200 in one year or $45,000 over five consecutive years to real market value is not treated as a new improvement, and those thresholds are indexed every year after 2024 [18]. The constitutional limits that compress a bill are measured against real market value, voter-approved bond levies for capital construction sit outside the Measure 5 limits, and local option taxes run up to five years for operations and 10 years for capital construction [18]. Each of those rules means a property tax line can rise faster than 3 percent when a levy passes or a property is improved, so a study projects tax from the levies in force, not from the 3 percent limit alone.

Table 15. Oregon property tax rules and dates a projection uses

Source: Department of Revenue personal property page [18], appeals page [19] and property tax exemptions page [21].

Illustrative model A: a Clackamas County hotel before and after January 1, 2027. The model takes a hotel of 110 rooms and applies the state lodging tax of 1.5 percent to nights in 2026 and 2.75 percent to nights in 2027 [16], the county's 6 percent tax [61] and the 5 percent collection allowance on the state tax [16]. It charges the CAT at $250 plus 0.57 percent of taxable commercial activity above $1 million after the 35 percent subtraction [17], and property tax at Clackamas County's FY 2025-26 average of $9.99 per $1,000 of Measure 5 value on an assumed real market value of $16,000,000 [22]. Three cases are compared: 2026 nights; 2027 nights with the hotel's own rate unchanged, so the guest pays more; and 2027 nights with the guest's total price held at the 2026 level, so the hotel keeps less. The room count, occupancy, room rate, other revenue, expenses, the expenses that qualify for the subtraction, the market value and the loan payment are FSC assumptions, and so is the treatment of the county's 6 percent as the only local lodging tax at the site and of revenue the hotel keeps, including the allowance, as its commercial activity. One more assumption is a gap a lender would ask about: business personal property tax is not modeled. The Department taxes machinery, equipment and furniture used in a business at 100 percent of real market value, on a return filed by March 15 [18], but the model assigns no value to the hotel's furniture and equipment, so its property tax line covers the assumed real market value alone and every DSCR in Table 16 is higher than in a model that carries that tax.

Table 16. Illustrative model A: lodging tax years, the CAT and DSCR

Source: state lodging rates, the 2027 change and the 5 percent allowance from the Department of Revenue [16]; the county rate from Clackamas County [61]; CAT terms from the Department of Revenue [17]; the Clackamas County average rate from the FY 2025-26 property tax statistics report [22]; the personal property rule from the Department of Revenue [18]. Every other line is an FSC assumption or arithmetic from one; none describes the market. Business personal property tax is excluded by assumption, so each DSCR shown is higher than it would be with that tax included.

When the hotel passes the 2027 increase to its guests, coverage does not move: the price rises from $172.00 to $174.00 a night, the extra tax is remitted, and the larger collection allowance adds $2,715 to net operating income [16]. When the market will not bear a higher total price, the hotel absorbs the increase: holding the guest at $172.00 cuts the rate it keeps to $158.16, room revenue by $50,236 and net operating income by $47,303, or 3.5 percent, and DSCR falls from 1.30 to 1.25 [16]. Which case applies is a market question the study has to answer with evidence for its own location. The CAT is about $18,870 in either year, roughly 0.02 of DSCR [17], and booking the taxes collected for the state and county as revenue would overstate coverage at 1.61 or more, an error a reviewer checks first [16][61].

Illustrative model B: an apartment building in the Bend metro under the rent cap. A sponsor buys a building of 96 units with in-place rents of $1,450 and plans to move renewals to $1,750, a 20.7 percent increase [23]. The model limits each renewal to the cap for its year, 10 percent for 2027 and, for comparison, 9.5 percent for 2026 [23], and assumes every tenancy is subject to ORS 90.324 and that no unit turns over during the year [23]. Property tax is charged at Deschutes County's FY 2025-26 average of $6.98 per $1,000 of Measure 5 value on an assumed real market value of $19,000,000 [22]. Rents, vacancy, expenses, market value, the loan payment, the coverage test and the loan constant are FSC inputs, and the sponsor's target rent is its own figure, not the ACS median.

Table 17. Illustrative model B: a rent plan against Oregon's cap

Source: the 2026 and 2027 caps and the ORS 90.324 formula from OEA [23]; the Deschutes County average rate from the FY 2025-26 property tax statistics report [22]. Every other line is an FSC input or arithmetic from one.

The cap leaves rents $155.00 a month short of the plan in the first year, which takes $178,560 off gross potential rent and $169,632 off net operating income [23]. Coverage falls from 1.26 to 1.08, and a lender sizing the loan to a 1.25 test on the capped income would lend $11,287,697 rather than $13,103,448, $1,815,751 less [23]. The model does not claim the rents are below market by any amount; it shows that in Oregon the speed of a rent plan is set in statute, so a study schedules the increase across as many lease years as the cap requires and reports DSCR in each. The cap for any year after 2027 turns on CPI [23], a figure this page does not carry, so the model ends with the 2027 renewals. The property tax line uses a county average; the parcel's own assessed value replaces it in a real study [22].

Illustrative model C: a Salem restaurant and bar with the CAT and an OLCC license. A full-service restaurant in Marion County expects $3,400,000 of food and beverage sales and pays $800 a year for a Full On-Premises Sales, Commercial license [33][17]. The model charges the CAT at $250 plus 0.57 percent of taxable commercial activity above $1 million, counts every sale as commercial activity, and takes the 35 percent subtraction on $1,300,000 of expenses assumed to qualify [17]; which receipts and expenses actually qualify is set by the Department of Revenue, and a study confirms both. Property tax is charged at Marion County's FY 2025-26 average of $9.54 per $1,000 of Measure 5 value on an assumed real market value of $2,600,000 [22], and no sales tax is added to the check [15]. Sales, costs, the qualifying expenses, market value and the loan payment are FSC assumptions.

Table 18. Illustrative model C: CAT and coverage at a Salem restaurant

Source: CAT rate, threshold and subtraction from the Department of Revenue [17]; the sales tax rule from the Department of Revenue [15]; the license fee from the OLCC fee table [33]; the Marion County average rate from the FY 2025-26 property tax statistics report [22]. Every other line is an FSC assumption or arithmetic from one.

The CAT takes $11,337 a year, 0.33 percent of sales but 2.2 percent of net operating income before it, and lowers DSCR from 1.29 to 1.26 [17]. The subtraction is worth $2,593 a year here [17]. The license fee is trivial by comparison at 0.16 percent of net operating income [33]; what the OLCC and the local health authority control is the opening date, not the margin [35][30]. With qualifying expenses at 38.24 percent of sales, a restaurant in this model owes no CAT until sales pass about $1.15 million [17], and because the threshold applies to the taxpayer's whole Oregon commercial activity, an operator's second location adds to the same total rather than starting a new $1 million allowance [17].

Taken together, the models isolate the Oregon lines that matter. Taxes collected from customers pass through when they are handled correctly, and the date of a lodging rate change matters only to the extent the hotel cannot pass it on; the CAT is a real expense on receipts that a study charges once the business crosses $1 million [17]; and the rent cap, not the market alone, sets how fast rental income may rise. A study ties each of those lines to its source and its year and reports coverage with them in place.

Which FSC pages go deeper on Oregon asset types?

No FSC page yet treats a single asset type inside Oregon alone, so the national pages below carry each asset's method, and this page supplies the Oregon rule that changes it. For a worked example set in this state, see FSC's model study of an Oregon boutique hotel financed with an SBA 7(a) loan.

National pages by the Oregon rule that bears hardest on each:

• Stays and events, where the 2027 rate change and the 30-day rule decide the tax. Glamping, hotel, wedding venue and RV park pages, paired here with the Department of Revenue's lodging rules and the site's local rate [16].
• Food and drink, where the license starts with the city or county. The brewery and restaurant pages, paired with the OLCC fee table and local plan review [33][30].
• Fuel and vehicles, where DEQ's tank rules come first. The car wash, gas station and truck stop pages, paired with DEQ's financial responsibility and release rules [37][39].
• Homes and communities, where the cap sets the pace of rent growth. The manufactured housing community, multifamily, senior housing and mixed-use pages, paired with OEA's cap and the park closure rules [23][27].
• Health and child care, where an approval precedes any revenue. The daycare, assisted living, medical office and skilled nursing pages, paired with DELC, ODHS and OHA rules [42][40][31].
• Schools. The charter school page, set against the charter agreement with the sponsoring board [44].
• Waterfront. The marina page, with the DSL lease and its 2027 fee changes added as lines of their own [48][49].
• Plants and warehouses. The industrial, data center and cold storage pages, paired with the state appraisal of industrial property and the enterprise zone terms [20][21].
• Storage and shops. The self-storage, RV and boat storage and retail pages, where the CAT applies once commercial activity passes $1 million [17].

Who prepares an Oregon study, and whose rulings does it have to date?

The study is the work of an independent consultant, the rulings it dates belong to the agencies and governments in Table 19, and any appraisal the lender commissions is a different report answering a different question. The study tests whether income after the CAT, property tax and operating costs carries the debt; the appraisal opines on what the property is worth. Where one document ends and the next begins is covered in three FSC comparisons: feasibility study and appraisal, feasibility study and market study, and feasibility study and business plan. Oregon's assessment system shows the difference: the assessor's real market value and the maximum assessed value under the 3 percent limit [18] are inputs a study takes from the roll for its tax line, and a study does not substitute its own opinion of value for either. For files tied to one program, FSC's pages on an SBA study and a USDA study apply.

SBA coverage splits Oregon in two. The Portland District Office serves 30 Oregon counties and four counties in southwestern Washington, and the Boise District Office serves the easternmost six Oregon counties [14], so the two offices together cover all 36. For USDA files, the Rural Development State Office makes rural determinations [11].

Table 19. The Oregon bodies whose rules a study dates

Source: Department of Revenue [16][17][18][20][21]; Property Value Appeals Board and Tax Court route from the Department of Revenue [18][19]; Portland and Clackamas County [58][61]; OEA [23][24]; OHCS [27][25]; OHA [30][29][31]; ODHS [40][41]; DELC [42]; OLCC [33][36]; DEQ [37][39]; Department of Education [44][45]; DSL [47][48]; PRC [54]; SBA [14]; 7 CFR 5001.3 [11].

What records should an Oregon study file contain?

An Oregon file holds the dated record behind each rate, limit and approval the projection relies on, so a reviewer can follow every line back to the body that set it. Table 20 names the Oregon records and the point each one settles. Items that every study needs in any state are on FSC's document checklist, and a list fitted to a single SBA or USDA deal comes from the SBA checklist generator or the USDA checklist generator.

Table 20. Oregon records to assemble before review

Source: Department of Revenue [16][17][18][20][21]; OEA [23]; OHCS [27]; OLCC [35]; OHA [30][31]; DEQ [37]; ODHS [40]; DELC [42]; Department of Education [44]; DSL [48][49]; Census Bureau, OEA and PRC [1][24][54].

What makes one Oregon study take more work than another?

Scope makes the difference: each extra tax year, licensing agency, rule in transition or population series a project touches adds work. No fee or schedule appears on this page. FSC's 2026 cost guide explains how pricing works, the cost estimator returns a range for a defined project, and the market or feasibility decision tree helps a sponsor judge whether a narrower market study would serve. In Oregon, these drivers widen the scope.

• A projection that crosses January 1, 2027. A lodging project open in both years needs each stay split by night between the 1.5 and 2.75 percent rates and a view on whether the hotel can pass the increase on [16].
• A business near the CAT threshold. A project whose taxable commercial activity sits near $1 million needs its subtraction worked out before the study can say whether the tax applies [17].
• A rent plan that has to be scheduled. An acquisition or value-add study for rental housing works through each renewal under the cap for its year, and any year after 2027 has to be labeled an assumption because the cap then depends on CPI [23].
• Property tax that cannot be read from the price. A study that needs the parcel's assessed value, a state-appraised industrial valuation or an enterprise zone schedule gathers records from the assessor and the Department of Revenue [18][20][21].
• Rules in transition. Temporary long-term care need rules running through December 21, 2026 [32], a pool rule hearing on November 17, 2026 [29] and waterway fee changes on July 1, 2027 [49] each require the study to state which rule it used.
• More than one licensing body. A hotel with a restaurant and bar answers to the Local Public Health Authority and the OLCC [30][35]; a care campus may need OHA's certificate of need and ODHS licensing [31][40].
• Competing population series and a metro that crosses the state line. Reconciling Census, OEA and PRC figures for each trade-area county [1][24][54], and separating the Oregon counties of the Portland metro from its Washington counties [10], adds a step.