New legislation states that if the total assessed value of a taxpayer’s taxable personal property in any county is less than $12,500, then the county assessor must cancel the tax assessment. In a county of more than 340,000, if the total assessed value of taxable manufactured structures is less than $12,500, then the county assessor must cancel the structures’ assessment. This begins for property tax years on or after 07/01/2014.
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