42-12104. Valuation and assessment


A. The county assessor shall determine the assessed valuation of historic property
as provided by chapter 15, article 1 of this title. Each year that the property is
classified and assessed as historic property the assessor shall enter on the rolls that
the property is so assessed and may be subject to additional taxes under section 42-12107
by adding the notation "historic property (potential additional tax)".


B. The assessor shall determine the valuation of commercial historic property that
is classified as class seven under section 42-12007 or class eight under section 42-12008
by using the market approach to valuation as described in section 42-16051, subsection B,
paragraph 2 or by using the cost approach to valuation as described in section 42-16051,
subsection B, paragraph 3, using the year of application as the base year.