42-12104. Valuation and assessment
A. The county assessor shall determine the assessed valuation of historic property as provided by chapter 15, article 1 of this title. Each year that the property is classified and assessed as historic property the assessor shall enter on the rolls that the property is so assessed and may be subject to additional taxes under section 42-12107 by adding the notation " historic property (potential additional tax)" .
B. The assessor shall determine the valuation of commercial historic property that is classified as class seven under section 42-12007 or class eight under section 42-12008 by using the market approach to valuation as described in section 42-16051, subsection B, paragraph 2 or by using the cost approach to valuation as described in section 42-16051, subsection B, paragraph 3, using the year of application as the base year.
Section: Previous 42-12054 42-12055 42-12056 42-12057 42-12101 42-12102 42-12103 42-12104 42-12105 42-12106 42-12107 42-12108 42-12151 42-12152 42-12153 NextLast modified: October 13, 2016