SB 1184 | Modifies the assessment of business tangible personal property |
Sponsor: | Griesheimer | Co-Sponsor(s) | ||
LR Number: | 4119S.03I | Fiscal Note: | 4119-03 | |
Committee: | Ways and Means | |||
Last Action: | 04/06/04 - SCS Voted Do Pass S Ways & Means Com. (4119S.05C) | Journal page: | ||
Title: | ||||
Effective Date: | January 1, 2005 | |||
SCS/SB 1184 - This act specifies that, for business tangible
personal property, the true value in money of the property shall
be the installed fair market value of the property. The act
defines the exact type of property and defines installed fair
market value. The act establishes a table to provide assessors
with guidance as to the proper valuation of various types of
property and the depreciation of such property. The act provides
that the tables and the assessors adjustments shall be presumed
to be valid.
JEFF CRAVER