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us-co/statute/39/39-3-129 — Proportional valuation - exempt property · Axiom

Proportional valuation - exempt property

2 rules

(1) Except as otherwise provided in subsection (2) of this section, whenever any real property that was previously taxable becomes legally exempt from the levy and collection of property tax or any real property that was previously legally exempt from the levy and collection of property tax becomes taxable, the valuation for assessment of the real property shall be a proportion of the valuation for assessment of the real property for the entire taxable year based upon the ratio of the portion of the taxable year in which the property is taxable to the entire taxable year. In the event the real property is partially leased, loaned, or otherwise made available to and used by a business conducted for profit, the determination as to what portion of the real property is so utilized shall be made by the administrator on the basis of the facts existing on the annual assessment date for the real property. The administrator shall have the authority to determine the actual value of the nonexempt portion of the property in relation to the actual value of the entire property by using the ratio of the square foot area of the property utilized by the business conducted for profit to the total square foot area of the property. Where shown to be more appropriate, in order to determine the relationship between the actual value of the nonexempt portion of the property and the actual value of the total property, the administrator may employ the ratio of the portion as measured in hours of any calendar year in which the property is leased, loaned, or otherwise made available to and used by any business conducted for profit to the entire calendar year.

(2) The provisions of subsection (1) of this section shall not be applicable to household furnishings.

in view

Whole section

Encodings · 2

valuation_for_assessment_after_tax_status_changeCO 39 § 39-3-129 · derived

C.R.S. 39-3-129(1)

name: valuation_for_assessment_after_tax_status_change
kind: derived
entity: Asset
dtype: Decimal
period: Year
source: C.R.S. 39-3-129(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            the valuation for assessment ... shall be a proportion ... based
            upon the ratio of the portion of the taxable year in which the
            property is taxable to the entire taxable year
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: shall not be applicable to household furnishings
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if property_tax_exempt_status_changed and not
      property_is_household_furnishing:
        valuation_for_assessment_for_entire_taxable_year * taxable_portion_of_taxable_year / entire_taxable_year_duration
      else: 0

nonexempt_actual_value_from_business_useCO 39 § 39-3-129 · derived

C.R.S. 39-3-129(1)

name: nonexempt_actual_value_from_business_use
kind: derived
entity: Asset
dtype: Decimal
period: Year
source: C.R.S. 39-3-129(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            the administrator shall have the authority to determine the actual
            value of the nonexempt portion ... by using the ratio of the square
            foot area
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            Where shown to be more appropriate ... the administrator may employ
            the ratio ... as measured in hours
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if property_is_partially_used_by_for_profit_business:
        if administrator_uses_hours_ratio:
          actual_value_of_entire_property * business_use_hours_in_calendar_year / hours_in_calendar_year
        else:
          actual_value_of_entire_property * business_use_square_foot_area / total_property_square_foot_area
      else: 0

▸rulespec code

Shown source

statutes/39/39-3-129.yaml

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Rules

valuation_for_assessment_after_tax_status_change

Derived

source: C.R.S. 39-3-129(1)

- name: valuation_for_assessment_after_tax_status_change
  kind: derived
  entity: Asset
  dtype: Decimal
  period: Year
  source: C.R.S. 39-3-129(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              the valuation for assessment ... shall be a proportion ... based upon the ratio of the
              portion of the taxable year in which the property is taxable to the entire taxable
              year
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: shall not be applicable to household furnishings
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if property_tax_exempt_status_changed and not property_is_household_furnishing:
          valuation_for_assessment_for_entire_taxable_year * taxable_portion_of_taxable_year / entire_taxable_year_duration
        else: 0

nonexempt_actual_value_from_business_use

Derived

source: C.R.S. 39-3-129(1)

- name: nonexempt_actual_value_from_business_use
  kind: derived
  entity: Asset
  dtype: Decimal
  period: Year
  source: C.R.S. 39-3-129(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              the administrator shall have the authority to determine the actual value of the
              nonexempt portion ... by using the ratio of the square foot area
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              Where shown to be more appropriate ... the administrator may employ the ratio ... as
              measured in hours
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if property_is_partially_used_by_for_profit_business:
          if administrator_uses_hours_ratio:
            actual_value_of_entire_property * business_use_hours_in_calendar_year / hours_in_calendar_year
          else:
            actual_value_of_entire_property * business_use_square_foot_area / total_property_square_foot_area
        else: 0

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Proportional valuation - exempt property

2 rules

Official source

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(2) The provisions of subsection (1) of this section shall not be applicable to household furnishings.

in view

Whole section

Encodings · 2

valuation_for_assessment_after_tax_status_changeCO 39 § 39-3-129 · derived

C.R.S. 39-3-129(1)

name: valuation_for_assessment_after_tax_status_change
kind: derived
entity: Asset
dtype: Decimal
period: Year
source: C.R.S. 39-3-129(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            the valuation for assessment ... shall be a proportion ... based
            upon the ratio of the portion of the taxable year in which the
            property is taxable to the entire taxable year
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: shall not be applicable to household furnishings
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if property_tax_exempt_status_changed and not
      property_is_household_furnishing:
        valuation_for_assessment_for_entire_taxable_year * taxable_portion_of_taxable_year / entire_taxable_year_duration
      else: 0

nonexempt_actual_value_from_business_useCO 39 § 39-3-129 · derived

C.R.S. 39-3-129(1)

name: nonexempt_actual_value_from_business_use
kind: derived
entity: Asset
dtype: Decimal
period: Year
source: C.R.S. 39-3-129(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            the administrator shall have the authority to determine the actual
            value of the nonexempt portion ... by using the ratio of the square
            foot area
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-3-129
          excerpt: >-
            Where shown to be more appropriate ... the administrator may employ
            the ratio ... as measured in hours
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if property_is_partially_used_by_for_profit_business:
        if administrator_uses_hours_ratio:
          actual_value_of_entire_property * business_use_hours_in_calendar_year / hours_in_calendar_year
        else:
          actual_value_of_entire_property * business_use_square_foot_area / total_property_square_foot_area
      else: 0

▸rulespec code

Shown source

statutes/39/39-3-129.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

valuation_for_assessment_after_tax_status_change

Derived

source: C.R.S. 39-3-129(1)

- name: valuation_for_assessment_after_tax_status_change
  kind: derived
  entity: Asset
  dtype: Decimal
  period: Year
  source: C.R.S. 39-3-129(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              the valuation for assessment ... shall be a proportion ... based upon the ratio of the
              portion of the taxable year in which the property is taxable to the entire taxable
              year
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: shall not be applicable to household furnishings
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if property_tax_exempt_status_changed and not property_is_household_furnishing:
          valuation_for_assessment_for_entire_taxable_year * taxable_portion_of_taxable_year / entire_taxable_year_duration
        else: 0

nonexempt_actual_value_from_business_use

Derived

source: C.R.S. 39-3-129(1)

- name: nonexempt_actual_value_from_business_use
  kind: derived
  entity: Asset
  dtype: Decimal
  period: Year
  source: C.R.S. 39-3-129(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              the administrator shall have the authority to determine the actual value of the
              nonexempt portion ... by using the ratio of the square foot area
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-3-129
            excerpt: >-
              Where shown to be more appropriate ... the administrator may employ the ratio ... as
              measured in hours
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if property_is_partially_used_by_for_profit_business:
          if administrator_uses_hours_ratio:
            actual_value_of_entire_property * business_use_hours_in_calendar_year / hours_in_calendar_year
          else:
            actual_value_of_entire_property * business_use_square_foot_area / total_property_square_foot_area
        else: 0