Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
610.0000 NEWLY CONSTRUCTED PROPERTY
610.0105 Tenant Improvements. While existing improvements are not assessed at a higher value when tenant improvements are newly constructed, the new improvements are to be enrolled at their full cash value upon completion of construction.
One valid method of valuing new tenant improvements is the cost approach, which takes into account the assessee's out-of-pocket and imputed costs. C 11/30/1990.