§ 42-13401 – Exclusive method of identifying and valuing common areas

42-13401. Exclusive method of identifying and valuing common areas This article establishes the exclusive method for identifying and valuing common areas.

§ 42-13402 – Identifying common areas; definition

42-13402. Identifying common areas; definition A. The county assessor shall identify common areas for valuation under this article. B. In general, common areas consist of improved or unimproved real property that is intended for the use of owners and residents of a residential subdivision or development and invited guests of the owners or residents and […]

§ 42-13403 – Computing valuation

42-13403. Computing valuation A. Subject to section 42-13404, values for common areas shall be made on the assumption that no other property use is possible. B. Land, buildings and improvements used for common areas shall be valued at five hundred dollars per parcel. The county assessor may divide the assessment amount per parcel to depict […]

§ 42-13404 – Deed restriction on common area use

42-13404. Deed restriction on common area use A. As a condition for valuation under this article, the subdivider of a residential subdivision, on approval of the subdivision by the state real estate department pursuant to title 32, chapter 20, article 4, or the community or homeowners’ association that owns the common area shall record a […]