21-73 - Reassessment of property.

Upon receiving a proper application, the assessor shall appraise the property and determine separately the full cash value of land, improvements and personalty immediately before and after the damage or destruction. If the sum of the full cash values of the land, improvements and personalty before the damage or destruction exceeds the sum of the values after the damage by ten thousand dollars ($10,000.00) or more, the assessor shall also separately determine the percentage reduction in the value of land, improvements and personalty due to the damage or destruction. The assessor shall reduce the values appearing on the assessment roll by the percentages of damage or destruction computed pursuant to this section and the taxes due on the property shall be adjusted as provided in Section 21-79; provided, however, that the amount of the reduction shall not exceed the actual loss.

(Ord. No. 1531, § 1, 12-10-74; Ord. No. 1802, § 1, 3-8-77; Ord. No. 2197, § 3, 3-17-81; Ord. No. 3986, § 4, 7-22-08)

The assessor shall notify the applicant in writing of the amount of the proposed reassessment. The notice shall state that the applicant may appeal the proposed reassessment to the local board of equalization within six (6) months of the date of mailing the notice. If an appeal is requested within the six (6) month period, the board shall hear and decide the matter as if the proposed reassessment had been entered on the roll as an assessment made outside the regular assessment period. The decision of the board regarding the damaged value of the property shall be final, provided that a decision of the local board of equalization regarding any reassessment made pursuant to this article shall create no presumption as regards the value of the affected property subsequent to the date of the damage.

Those reassessed values resulting from reductions in full cash value of amounts, as determined above, shall be forwarded to the auditor by the assessor or the clerk of the local equalization board, as the case may be. The auditor shall enter the reassessed values on the roll. After being entered on the roll, those reassessed values shall not be subject to review, except by a court of competent jurisdiction.

(Ord. No. 3986, § 5, 7-22-08)

If no application is made and the assessor determines that within the preceding twelve (12) months a property has suffered damage caused by misfortune or calamity, which may qualify the property owner for relief under this article, the assessor shall provide the last-known owner of the property with an application for reassessment. The property owner shall file the completed application within twelve (12) months

occurrence of said damage. Upon receipt of a properly completed, timely filed, application, the assessor shall proceed to reassess the property in the same manner as required above.

(Ord. No. 1802, § 1, 3-8-77; Ord. No. 2197, § 4, 3-17-81; Ord. No. 3986, § 6, 7-22-08)