Changes to Existing Law
SB141 — Distinguish between new construction and improvements to existing structures for purposes of calculating increases in revenue payable from property taxes.
2 sections modified+59-0
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§ 10-13
New Section+29
NEW SECTION added to Chapter 10-13
For purposes of § 10-13-35, the increase in taxable value from the improvement of real property does not include additions to, or improvements of, existing structures affixed to land.
§ 13-16
New Section+30
NEW SECTION added to Chapter 13-16
For purposes of § 13-16-7, the increase in taxable value from the improvement of real property does not include additions to, or improvements of, existing structures affixed to land. 12