SB 1184 Modifies the assessment of business tangible personal property
Sponsor:Griesheimer Co-Sponsor(s)
LR Number:4119S.03I Fiscal Note:4119-03
Committee:Ways and Means
Last Action:04/06/04 - SCS Voted Do Pass S Ways & Means Com. (4119S.05C) Journal page:
Effective Date:January 1, 2005
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Current Bill Summary

SCS/SB 1184 - This act specifies that, for business tangible personal property, the true value in money of the property shall be the installed fair market value of the property. The act defines the exact type of property and defines installed fair market value. The act establishes a table to provide assessors with guidance as to the proper valuation of various types of property and the depreciation of such property. The act provides that the tables and the assessors adjustments shall be presumed to be valid.