Current through Bulletin 2024-18, September 15, 2024
(1) Definitions.
(a) "Accepted valuation methodologies" means
those methodologies approved or endorsed in the Standard on Mass Appraisal of
Real Property and the Standard on Automated Valuation Models published by the
International Association of Assessing Officers (IAAO).
(b) "Database," as referenced in Section
59-2-303.1(6),
means an electronic storage of data using computer hardware and software that
is relational, secure and archival, and adheres to generally accepted
information technology standards of practice.
(2) County mass appraisal systems, as defined
in Section
59-2-303.1,
shall use accepted valuation methodologies to perform the annual update of all
residential parcels.
(3)
(a) A detailed review of property
characteristics shall include a sufficient inspection to determine any changes
to real property due to:
(i) new construction,
additions, remodels, demolitions, land segregations, changes in use, or other
changes of a similar nature; and
(ii) a change in condition or effective
age.
(b)
(i) A detailed review of property
characteristics shall be made in accordance with the IAAO Standard on Mass
Appraisal of Real Property.
(ii)
When using aerial photography, including oblique aerial photography, the date
of the photographic flight is the property review date for purposes of Section
59-2-303.1.
(4) The last property review date to be
included in the county's computer system shall include the actual day, month,
and year that the last detailed review of a property's characteristics was
conducted.
(5) The last property
review date to be included on the notice shall include at least the actual year
or tax year that the last detailed review of a property's characteristics was
conducted. The month and day of the review may also be included on the notice
at the discretion of the county assessor and auditor.
(6)
(a) The
five-year plan shall detail the current year plus four subsequent years into
the future. The plan shall define the properties being reviewed for each of the
five years by one or more of the following:
(i) class;
(ii) property type;
(iii) geographic location; and
(iv) age.
(b) The five-year plan shall also include
parcel counts for each defined property group.
