Except as otherwise provided in Code Section 48-5-7, the board of tax assessors in each municipality which has such a board pursuant to the municipal charter shall use as the basis for fair market value of property subject to both municipal and county ad valorem taxation the 100 percent fair market value determined for the property for county ad valorem taxation purposes before being reduced to the 40 percent assessed value required by law for county ad valorem taxation purposes.
Section: Previous 48-5-350 48-5-351 48-5-352 48-5-353 48-5-354 48-5-355 48-5-356 48-5-357 48-5-358 48-5-359 48-5-359.1 48-5-360 48-5-361 NextLast modified: October 14, 2016