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368 (07/2026) Chapter 2:Eligibility • Section 5: Financial eligibility Sometimes tax assessor records are not the best way to determine fair market value. For example, current property tax records may overvalue property that has deteriorated. An appraisal may reflect a more realistic property value. Property tax records may sometimes undervalue property, such as homes, farmland and timberland. If property is appraised at or sells for more than the tax assessor’s listed current market value, the most accurate property value is the greater of the appraisal’s value or its selling price. If property sells for less than either the tax assessor’s current market value or an appraisal’s value, then that is a red flag to investigate why a sale was for less than fair market value. Sales or transfers of property for less than fair market value are potentially disqualifying transfers. Generally, the following methods can help to accurately determine fair market value: • Using the highest value identified by the county assessor on the most recent property tax record • Using the value established by an appraisal or comparative market analysis as the current amount the real property would sell for on the open market, and • Consider the gross sales price of property that has sold, not just the net proceeds. For example, paying off a mortgage as part of the transaction is also considered compensation when determining fair market value. Treat real property that is not income-producing or the financial group’s home as follows: (a) For REF, REFM and TANF, count as a resource the equity value of all real property not excluded under an interim assistance agreement. (b) For EA and ERDC, exclude real property. (c) For SNAP, exclude the equity value of real property the financial group is making a good-faith effort to sell at a fair market price. If the group refuses to make a good-faith effort to sell, count the equity value of the property as a resource. In addition, the resource is excluded if selling it would produce a net gain of less than $1500 to the financial group. (d) OSIPM: (A) Exclude the equity value of real property that was the home of the financial group as a resource if they are making a good-faith effort to sell at a reasonable price. Do not exclude if the equity value in the home makes the individual ineligible under OAR 461-145-0220(2)(a). If the group refuses to make a good-faith effort, count the equity value of the property as a resource. (B) Count the equity value of all other real property as a resource unless the financial group is making a good-faith effort to sell the property. The equity value is counted after the property is excluded for nine months unless the failure to sell is for reasons beyond the reasonable control of the financial group. Note: A good-faith effort to sell property includes listing the property for sale in the local newspaper, putting a “For Sale” sign on the property, and/or listing the property with a real estate company. For HSD medical programs and MSP: Resources are not considered in eligibility determination. Oregon Administrative Rule(s) 461-145-0420 — Real Property 414-175-0035 — Specific Financial Requirements