Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > N > 610.0000 NEWLY CONSTRUCTED PROPERTY > 610.0105

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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610.0000 NEWLY CONSTRUCTED PROPERTY

Annotation 610.0105

610.0105 Tenant Improvements. While existing improvements are not assessed at a higher value when tenant improvements are newly constructed, the new improvements are to be enrolled at their full cash value upon completion of construction.

One valid method of valuing new tenant improvements is the cost approach, which takes into account the assessee's out-of-pocket and imputed costs. C 11/30/1990.