§ 59-2-301.6. Definition -- Assessment of property having a diminished productive value. (Effective 1/1/2015)

Latest version.

(1)

As used in this section, "diminished productive value" means that property has no, or a significantly reduced, ability to generate income as a result of:

(a)

a parcel size requirement established under a land use ordinance or zoning map adopted by a:

(i)	city or town in accordance with Title 10, Chapter 9a, Part 5, Land Use Ordinances; or

(ii)	a county in accordance with Title 17, Chapter 27a, Part 5, Land Use Ordinances; or

(b)	one or more easements burdening the property.

(2)	In assessing the fair market value of property, a county assessor shall consider as part of the determination of fair market value whether property has diminished productive value.

(3)	This section does not prohibit a county assessor from including as part of a determination of the fair market value of property any other factor affecting the fair market value of the property.

Enacted by Chapter 218, 2014 General Session

                    
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