US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 6
                           EXEMPTIONS FROM TAXATION
    63-602X.  PROPERTY EXEMPT FROM TAXATION -- CASUALTY LOSS. (1) The
following property is exempt from taxation: real and personal property which
has been damaged by an event causing casualty loss to all or a portion of the
property. The board of equalization on a case-by-case basis shall determine
whether to grant an exemption.
    An exemption granted under this section shall be for the year in which the
real or personal property has been damaged or destroyed. Claimants seeking
exemption under this section must apply to the county board of equalization.
The application must be in writing on a form provided by the county and must
identify the claimant, the date of the casualty loss, and the property that
has been damaged or destroyed. The application must be filed on or before the
end of the county's normal business hours on the fourth Monday of June of the
year in which the casualty loss occurred. If an exemption is granted, the
value of the property subject to taxation shall be calculated by dividing the
number of days in the year prior to the casualty loss by the number of days in
the year and multiplying the resulting quotient by the market value of the
property less any applicable exemptions, as of 12:01 a.m. on the first day of
January of the tax year.
    (2)  The county board of equalization shall decide whether to grant such
claim for exemption on or before the second Monday of July of the year in
which the claim is filed. If granted, either in whole or in part, the county
board of equalization shall order all necessary adjustments made in the
property roll.