59-2-505. Indicia of value for agricultural use assessment -- Inclusion of fair market value on certain property tax notices.
(1) The county assessor shall consider only those indicia of value that the land has for agricultural use as determined by the commission when assessing land: that meets the requirements of Sectionto be assessed under this part; and 59-2-503 for which the owner has: made a timely application in accordance with Sectionfor assessment under this part for the tax year for which the land is being assessed; and 59-2-508 obtained approval of the application described in Subsectionfrom the county assessor. (1)(a)(ii)(A) If land that becomes subject to a conservation easement created in accordance with, meets the requirements of Subsectionfor assessment under this part, the county assessor shall consider only those indicia of value that the land has for agricultural use in accordance with Subsectionwhen assessing the land. Title 57, Chapter 18, Land Conservation Easement Act (1)(a) (1)(a)
(2) In addition to the value determined in accordance with Subsection, the fair market value assessment shall be included on the notices described in: (1) Section; and 59-2-919.1 Section. 59-2-1317
(3) The county board of equalization shall review the agricultural use value and fair market value assessments each year as provided under Section. 59-2-1001