Any increase in value of privately owned lands resulting from the planting of trees shall not be taken into account in determining the actual value of such lands for a period of thirty years from the date of planting such trees. This section shall apply to all lands so planted; however, in the event that any trees become sufficiently mature as to be of economic use and value prior to the expiration of thirty years, any increase in use and value shall be thereafter taken into account in determining the actual value of such lands.
Source: L. 89: Entire article R&RE, p. 1478, � 1, effective April 23.
Editor's note: This section is similar to former � 39-3-103 as it existed prior to 1989.
39-3-126.5. Mobile homes - low-value - exemption - legislative declaration - definition. (1) The general assembly hereby finds and declares that:
(a) Mobile homes are unique properties that are subject to the ad valorem tax as if they are real property, but the tax is collected as if they are personal property;
(b) The actual value of mobile homes can be quite low compared to other residential real property improvements;
(c) For these low-value mobile homes, the actual collection costs attributable to a county assessor and county treasurer may exceed the total amount of taxes collected;
(d) If the taxes owed on these mobile homes become delinquent, then all of the additional collection costs may exceed the taxes owed; and
(e) This exemption will only have a de minimis impact on local government revenues.
(2) As used in this section, mobile home means a mobile home as defined in section 39-1-102 (8) or a manufactured home as defined in section 39-1-102 (7.8) and, in either case, for which a certificate of title has been issued pursuant to part 1 of article 29 of title 38 and that does not have a certificate of permanent location pursuant to section 38-29-202.
(3) For property tax years commencing on or after January 1, 2022, a mobile home with an actual value that is less than or equal to twenty-eight thousand dollars is exempt from the levy and collection of property tax.
Source: L. 2022: Entire section added, (HB 22-1223), ch. 308, p. 2219, � 1, effective August 10.