| Reappraisal Information Continued Part 3 |
| (g)The initial schedule of review and revaluation under this section shall be determined by the board. The board may modify plans approved prior to May 29, 1997, in order to immediately implement the provisions of this section for tax year 1997. The board may specify a four-, five- or six-year cycle for the initial scheduling of review and revaluation under this section; provided, that approval of the county legislative body shall be required to move a mid-cycle updating of values from an existing reappraisal plan, and any revised plan longer than five (5) years shall include a mid-cycle updating of values pursuant to subsection (b). (h)(1) There shall also be an updating of the localized and nonoperating real property of public utilities in each county, and such shall be accomplished in the same year as other locally assessed properties. (2)All assessing and updating of operating properties of public utility companies shall be done by the comptroller of the treasury in accordance with part 13 of this chapter. (3)All expenses for assessing and updating operating properties of public utilities shall be paid by the comptroller of the treasury. (i)As part of any reappraisal program conducted pursuant to the provisions of this part, the assessor of property of each county shall identify all cemeteries having historic value as determined by the county historian and the cemetery advisory committee. Every cemetery having one (1) or more tombstones shall be indicated on the tax maps by an appropriate symbol prescribed by the state board of equaliztion; any cemetery which is not less than one forth (1/4) of an acre shall be identified as a seperate parcel and contain the appropriate symbol. |
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