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properties which tail u> satisfy use -value taxation assessment and taxation requirements. such as minimu m a create requirements...or production requirements...Such property must Ire assessed at its fair market value."
In determining fair market value. Baliles continued, the assessor is to consider all the elements which determine that value; that is, the price which property will bring in a transaction between a willing buyer and a willing seller.
“Certainly, possible limitations on development, local governmental review of the district. special assessments and tax levies relief, limitations on State and local governmental regulation, and other relevant circumstances affect fair market value and should be considered by the tax assessor.” the Attorney
Geyeral concluded.
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