CHAPTER 170

S.P. 713 - L.D. 1796

Resolve, Concerning the Assessment of Property Subject to

Affordable Housing Limitations and Benefits

Sec. 1. Review. Resolved: That the Department of Administrative and Financial Services, Bureau of Revenue Services, referred to in this resolve as "the bureau," shall review the factors that should be considered by municipal assessors when determining the just value of property acquired, rehabilitated or constructed pursuant to federal laws related to affordable housing for low- income persons. The factors to be reviewed must include, but are not limited to, contracts and agreements, enforceable restrictions on the use of such property, financial elements including sales of such projects, government subsidies, tax credits, permits and licenses and any other factors considered relevant by the bureau; and be it further

Sec. 2. Informational program and materials. Resolved: That the bureau shall prepare an informational program and materials for municipal assessors that describe the factors that should be considered by municipal assessors when determining the just value of property acquired, rehabilitated or constructed pursuant to federal laws related to affordable housing for low-income persons. The informational program must be presented as part of the bureau's annual Property Tax School; and be it further