Text: HSB00501 Text: HSB00503 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 441.21, subsection 6, Code Supplement 1 2 1997, is amended to read as follows: 1 3 6. Beginning with valuations established as of January 1, 1 4 1978, the assessors shall report the aggregate taxable values 1 5 and the number of dwellings located on agricultural land and 1 6 the aggregate taxable value of all other structures on 1 7 agricultural land. Beginning with valuations established as 1 8 of January 1, 1981, the agricultural dwellings located on 1 9 agricultural land shall be valued at their market value as 1 10 defined in this section and agricultural dwellings shall be 1 11 valued as rural residential property and shall be assessed at 1 12 the same percentage of actual value as is all other 1 13 residential property. Beginning with valuations established 1 14 as of January 1, 1998, one acre of the agricultural land upon 1 15 which an agricultural dwelling is located shall be valued at 1 16 its market value and shall be valued as rural residential 1 17 property and shall be assessed at the same percentage of 1 18 actual value as is all other residential property. 1 19 EXPLANATION 1 20 Under present law farm dwellings located on agricultural 1 21 land are valued at market value and assessed at the same 1 22 percentage as other residential property. The agricultural 1 23 land upon which the dwellings are located are valued under the 1 24 productivity formula. This bill provides that one acre of the 1 25 agricultural land upon which the farm dwelling is located 1 26 shall also be valued at market value and assessed at the same 1 27 percentage as other residential property. 1 28 The bill will apply to valuations established as of January 1 29 1, 1998. 1 30 LSB 3039HC 77 1 31 mg/jl/8
Text: HSB00501 Text: HSB00503 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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