The statute requires reassessment every three years

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Unformatted text preview: s increments to assessed value that are politically unpalatable. Exemptions Figure 4.1 shows that only 10 to 12 percent of the total land parcels are exempted, but they account for 40 to 50 percent of the total amount of taxable assessed value. Though a further analysis is required, it can be inferred that some exempted properties have higher land values. In this respect the city might be unable to take advantage of a significant portion Government Audit Office, Commission Audits of its most lucrative tax base, unless exemption provisions are changed or some payment is required in lieu of tax on exempt properties. Figure 4.1 Assessed Value of Land Exemptions Exemptions 90 80 70 cm 60 50 ?llexempt/taxable -44 42 -0% 40 assessed value exempt land parcels E30 20 10 0, 1990 1991 1992 1993 1994 1995 1996 1997 1998 Year Source: Compiled with data from Land Assessor's Office 4.3 Recommendations Making property tax more productive involves improving different elements of tax administration - identification of properties,...
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