Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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Annotation 585.0060

585.0060 Site Value. Value, whether positive or negative, attributable to the physical site on which a manufactured home is located should not be included in the value of a manufactured home located on rented or leased land. In establishing the value of such homes, the assessor is required to take into consideration sales prices listed in designated recognized value guides. It is advisable to place in the appraisal record the recognized value guide relied upon and the value indicated therein.

The standard cost approach, comparative sales approach, and income approach, as appropriate, should also be used to confirm that the value guide is within the market range. LTA 7/7/1993 (No. 93/35).