Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
630.0000 PERSONAL PROPERTY
630.0045 Valuation. The inclusion of sales tax in cost-based indicators used to value personal property held at the consumer level for property tax purposes is both required under appraisal theory and consistent with generally accepted accounting principles. It is supported by case law and violates neither the prohibition against double taxation nor general principles of valuation and appraisal. C 4/19/1999.