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