59-2-301.2 - 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 bedivided 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 minimumparcel 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 thanthe minimum parcel size; and
(b) any effects Subsection (2)(a) may have on the fair market value of the parcel ofproperty.
(3) This section does not prohibit a county assessor from including as part of anassessment of the fair market value of a parcel of property any other factor affecting the fairmarket value of the parcel of property.
Amended by Chapter 254, 2005 General Session