Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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850.0000 VALUE

Annotation 850.0100

850.0100 Undivided Interests. The proper method of determining the base year value of an undivided interest in real property is to first appraise the entire property as of the date of the change in ownership at its fair market value and to then allocate to such interest that percentage of the value that corresponds to the percentage of the interest vis-a-vis all interests in the property. C 1/12/1983.