42-13601. Definitions In this article, unless the context otherwise requires: 1. " Conventional multifamily property" means a residential rental property that does not meet the requirements prescribed in paragraph 3 of this section. 2. " Low-income housing tax credit program" means the federal low-income housing tax credit program established by the tax reform act of […]
42-13602. Applicability of article; property Property that is subject to valuation by the county assessor under this article consists of land and buildings of low-income multifamily residential rental property.
42-13603. Valuation; income method; requirements; confidentiality; definitions A. Subject to section 42-13604, this article allows the owner of low-income multifamily residential rental property to elect a statutory income method for valuing the low-income multifamily residential rental property. B. On timely election by the owner of a low-income multifamily residential rental property, the county assessor shall […]
42-13604. Required documentation A. As a condition of valuation under this article, an owner or operator of low-income multifamily residential rental property must provide written documentation to the county assessor confirming that the property has been placed in service as a low-income multifamily residential rental property consistent with section 42 of the internal revenue code. […]
42-13605. Appeals A. An owner or operator of low-income multifamily residential rental property that opts into the income valuation method set forth in this article may appeal the value of the property pursuant to chapter 16 of this title. On appeal, the owner or operator may submit more recent income and expense data from the […]
