1 |
(2) Land devoted to agricultural use
which shall be valued upon the basisof its agricultural income or
agricultural productivity pursuant to section12 of article 11 of
the constitution |
30% |
2 |
(3)Vacant lots |
12% |
3 |
(4) Real property which is owned and
operated by a not-for-profit organi-zation not subject to federal
income taxation pursuant to section 501 ofthe federal internal
revenue code, and which is included in this subclassby law |
12% |
4 |
(5) Public utility real property,
except railroad real property which shall beassessed at the average
rate that all other commercial and industrialproperty is
assessed |
33% |
5 |
(6) Real property used for commercial
and industrial purposes and build-ings and other improvements
located upon land devoted to agriculturaluse |
25% |
6 |
(7) All other urban and rural real
property not otherwise specifically sub-classified |
30% |
7 Class 2 shall consist
of tangible personal property. Such tangible per-
11 |
(1)Mobile homes used for residential
purposes |
111/2% |
12 |
(2) Mineral leasehold interests except
oil leasehold interests the averagedaily production from which is
five barrels or less, and natural gas lease-hold interests the
average daily production from which is 100 mcf orless, which shall
be assessed at 25% |
30% |
13 |
(3) Public utility tangible personal
property including inventories thereof,except railroad personal
property including inventories thereof, whichshall be assessed at
the average rate all other commercial and industrialproperty is
assessed |
33% |
14 |
(4) All categories of motor vehicles
not defined and specifically valued andtaxed pursuant to law
enacted prior to January 1, 1985 |
30% |
15 |
(5) Commercial and industrial
machinery and equipment which, if its ec-onomic life is seven years
or more, shall be valued at its retail cost whennew less seven-year
straight-line depreciation, or which, if its economiclife is less
than seven years, shall be valued at its retail cost when newless
straight-line depreciation over its economic life, except that,
thevalue so obtained for such property, notwithstanding its
economic lifeand as long as such property is being used, shall not
be less than 20%of the retail cost when new of such property |
25% |
16 |
(6) All other tangible personal
property not otherwise specifically classified |
30% |
17 (b) All property used
exclusively for state, county, municipal, literary,