Sec. 18-51. How assessment to be made.
The city assessor shall assess for taxation at its fair market value all real estate within the city subject to assessment by law and all rights thereto and interest therein, and shall have the right and power to do all things necessary to assess such property.
Every assessment of real estate shall be effective for tax purposes on the first day of July of the fiscal year for which the assessment is made and the taxes and other charges shall be extended on the basis of every such assessment. The beginning of the tax year and assessment year for the assessment of taxes on all real estate assessable by the city for taxation shall be July first, and the owner of such real estate on that day shall be assessed with taxes for the fiscal year beginning on that day.
In assessing any building and the land it occupies which may be owned exclusively by a benevolent or charitable institution, or by a church or religious body, but all of which is not used exclusively for lodge purposes or meeting rooms or for church or religious or charitable purposes, the assessor or assessors shall assess for taxation such proportionate part of the fair market value of the entire property as would be the comparative fair market value of the part of such land and building not used exclusively for lodge purposes or meeting rooms, or for a church or religious or charitable purposes. In addition to the property required to be assessed by the provisions of this article, the assessor or assessors shall value all nontaxable real estate in the city and all other property in the city as may be required by the city council. (Code 1959, § 12-38; Ord. No. O-01-132, eff. 7-1-01)
Last updated date: 10/23/2006 4:15:21 PM