Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > B > 200.0000 BASE YEAR VALUE TRANSFER > 200.0354

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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B

200.0000 BASE YEAR VALUE TRANSFER

(b) BASE YEAR VALUE TRANSFER – GOVERNMENT ACQUISITION

Annotation 200.0354

200.0354 Replacement Property. If a governmental agency purchases a two acre parcel of land, removes the existing improvements, subdivides the two acres into two one acre parcels, builds an improvement requested by the original owner and then sells the one acre and the new improvement to the former owner, the resold portion would qualify as a replacement property referred to in Property Tax Rule 462.5. C 12/18/1989.