Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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Annotation 610.0035

610.0035 Fire Detection Equipment. Such equipment is excluded from the definition of "newly constructed" if it is constructed or installed in an existing building, but such equipment is not excluded from the definition of "change in ownership." Upon a change in ownership of real property that has had such equipment installed, the new base year value of the property should include the value of the existing fire detection equipment. C 12/15/1995.