Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
770.0000 STATE BOARD OF EQUALIZATION
770.0050 Board Property Tax Rules. Board property tax rules impose mandatory duties on county assessors and supersede guidance provided in assessors' handbooks if there are conflicts between rules and handbooks.
Property Tax Rule 6 (the cost approach to value) does not contemplate using acquisition cost, i.e., a sales price after construction, in a valuation based upon cost of construction, except when original cost is unknown. In such an instance, price level changes since the sale must be taken into account as provided in the rule. C 2/25/1992.