5638 AMH  GOWE 10

SB 5638 - H AMD 429 ADOPTED 4-17-93

By Representative Forner and Others

     On page 2, after line 22, insert the following:

     "The appraisal shall also take into consideration any reduction in property values or highest and best use that are the result of a direct government action.  If notified by a real property owner or by a state, county, or city authority of a change in permitted use of a parcel of real property, the county assessor shall review the impact of the change in permitted use on the highest and best use of the real property and shall relist, revalue, reassess, and retax the property accordingly."

EFFECT:  Requires a county assessor, in computing assessed valuation, to take into consideration any reduction in property values or highest and best use that are the result of a direct government action.

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