(1) Subject to subsection (2), by the first Monday in August, the department shall
certify to each taxing authority the total taxable value within the jurisdiction of
the taxing authority. The department shall also send to each taxing authority a written statement of its
best estimate of the total taxable value of newly taxable property, as described in
15-10-420(3). Upon the request of a taxing authority, the department shall provide an estimate of
the total taxable value within the jurisdiction of the taxing authority by the second
Monday in July.
(2) For tax years beginning after December 31, 2000, if the ownership of centrally
assessed property has been transferred in whole or in part to a different owner and
the transferred property has a market value of $1 million or more as determined by
the department, the department shall determine separately the taxable value of newly
taxable property and the taxable value associated with reappraisal of centrally assessed
property that is transferred to a different owner. The department shall certify to each taxing authority, at the time specified in subsection
(1), the taxable value of newly taxable property and the total taxable value of centrally
assessed property, exclusive of newly taxable property, that has been transferred
to a different owner.
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