Title 59 Chapter 2 Section 301.2

Revenue and Taxation
Property Tax Act
Section 301.2
Definitions -- Assessment of property subject to a minimum parcel size -- Other factors affecting fair market value.

            

59-2-301.2.   Definitions -- Assessment of property subject to a minimum parcel size -- Other factors affecting fair market value.

            (1) "Minimum parcel size" means the minimum size that a parcel of property may be divided into under a zoning ordinance adopted by a:

            (a) county in accordance with Title 17, Chapter 27a, Part 5, Land Use Ordinances; or

            (b) city or town in accordance with Title 10, Chapter 9a, Part 5, Land Use Ordinances.

            (2) In assessing the fair market value of a parcel of property that is subject to a minimum parcel size of one acre or more, a county assessor shall include as part of the assessment:

            (a) that the parcel of property may not be subdivided into parcels of property smaller than the minimum parcel size; and

            (b) any effects Subsection (2)(a) may have on the fair market value of the parcel of property.

            (3) This section does not prohibit a county assessor from including as part of an assessment of the fair market value of a parcel of property any other factor affecting the fair market value of the parcel of property.


Amended by Chapter 254, 2005 General Session