Iowa Admin. Code r. 701-110.54
Current through Register Vol. 47, No. 13, December 25, 2024
In the event a portion of property is determined to be subject to taxation and a portion of the property exempt from taxation, the taxable value of the property shall be an amount which bears the same relationship to the total value of the entire property as the area of the portion subject to taxation bears to the area of the entire property. If a portion of a structure is subject to taxation, a proportionate amount of the value assigned to the land upon which the structure is located shall also be subject to taxation.
This rule is intended to implement Iowa Code subsection 427.1(14).
Iowa Admin. Code r. 701-110.54
ARC 7726B, IAB 4/22/09, effective 5/27/09; Editorial change: IAC Supplement 11/2/22