Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > N > 610.0000 NEWLY CONSTRUCTED PROPERTY > 610.0001

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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N

610.0000 NEWLY CONSTRUCTED PROPERTY

Annotation 610.0001

610.0001 Appraisal Upon Completion. Construction begins in July 1976 and is completed in January 1979. The structure is appraised at $30,000 on March 1, 1977 (when one-third complete), at $60,000 on March 1, 1978 (when two-thirds complete), and has an actual fair market value of $120,000 as of January 1, 1979. The March 1, 1979, newly constructed base year value is $120,000. Factoring commences March 1, 1980. C 2/11/1980.