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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