Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014

Property Tax Annotations

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Annotation 610.0015

610.0015 Construction in Progress. A construction project available for occupancy, although vacant for lack of tenants, is complete and its base year value should be determined.

An incomplete construction project no longer qualifies as construction in progress and is to have its base year value determined when it has come to an unscheduled halt for an extended period and there are no definite plans for continuation of construction within a reasonable time.

A construction project to be constructed in definite stages, with some portions being completed and available for use before other portions are constructed, should have base year values determined for the various portions as they are completed. LTA 5/8/1980 (No. 80/77).