Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
200.0000 BASE YEAR VALUE TRANSFER
(b) BASE YEAR VALUE TRANSFER – GOVERNMENT ACQUISITION
200.0354 Replacement Property. If a governmental agency purchases a two acre parcel of land, removes the existing improvements, subdivides the two acres into two one acre parcels, builds an improvement requested by the original owner and then sells the one acre and the new improvement to the former owner, the resold portion would qualify as a replacement property referred to in Property Tax Rule 462.5. C 12/18/1989.