§ 8-6.1 Tax base and rate.

   Except as exempted by ordinance, or as otherwise provided for, all real property shall be subject to a tax upon 100 percent of its fair market value determined in the manner provided by ordinance, at such rate as shall be determined in the manner provided in § 8-11.1. No taxpayer shall be deemed aggrieved by an assessment, nor shall an assessment be lowered, except as the result of a decision on an appeal as provided by law. For the purpose of this section, an exemption listed and recognized under § 8-10.20 shall be deemed an exemption granted by ordinance.

(Sec. 8-6.1, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 6, § 8-6.1) (Am. Ords. 92-38, 00-64, 00-65)

§ 8-6.2 Tax year—Time of levy and assessment.

   For real property tax purposes, “tax year” means the fiscal year beginning July 1 of each calendar year and ending June 30 of the following calendar year. Real property shall be assessed as of October 1 preceding each tax year and taxes shall be levied thereon in the manner and when provided in this chapter.

(Sec. 8-6.2, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 8, Art. 6, § 8-6.2) (Am. Ord. 96-15)

§ 8-6.3 Assessment of property—To whom in general.

(a)   Real property shall be assessed in its entirety to the owner thereof, provided that where improved residential land has been leased for a term of 15 years or more, the real property shall be assessed in its entirety to the lessee or the lessee’s successor in interest holding the land for such term under such lease and the lessee or successor in interest shall be deemed the owner of the real property in its entirety for the purpose of this chapter; provided that the lease and any extension, renewal, assignment, or agreement to assign the lease:

(1)   Shall have been duly entered into and recorded in the bureau of conveyances or filed in the office of the assistant registrar of the land court before October 1 preceding the tax year for which the assessment is made; and

(2)   Shall provide that the lessee shall pay all taxes levied on the property during the term of the lease.

(b)   For the purposes of this section, “improved residential land” means land improved with a single-family dwelling on it.

(c)   For the purposes of this chapter, life tenants, personal representatives, trustees, guardians, or other fiduciaries may be, and persons holding government property under an agreement for the conveyance of the same to such persons shall be considered as owners during the time any real property is held or controlled by them as such. Lessees holding under any government lease shall be considered as owners during the time any real property is held or controlled by them as such, as more fully provided in § 8-10.14 and further, notwithstanding any provisions to the contrary in this chapter, any tenant occupying government land, whether such occupancy has continued for a period of one year or more, as more fully provided in § 8-10.14. Persons holding any real property under an agreement to purchase the same, shall be considered as owners during the time the real property is held or controlled by them as such; provided the agreement to purchase:

(1)   Shall have been recorded in the bureau of conveyances; and

(2)   Shall provide that the purchasers shall pay the real property taxes levied on the property.

Persons holding any real property under a lease for a term to last during the lifetime of the lessee, shall be considered as owners during the time the real property is held or controlled by them as such; provided that the lease:

(1)   Shall have been duly entered into and recorded in the bureau of conveyances or filed in the office of the assistant registrar of the land court before October 1 preceding the tax year for which the assessment is made; and

(2)   Shall provide that the lessee shall pay all taxes levied on the property during the term of the lease.

(Sec. 8-6.3, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 6, § 8-6.3) (Am. Ord. 96-15)

§ 8-6.4 Imposition of real property taxes on reclassification.

(a)   A portion of real property taxes shall be imposed upon and paid by the owner or owners thereof when:

(1)   The property of the owner has been leased for a term of 15 years or more;

(2)   The classification of the property has been changed to a classification of a higher use during the life of the lease; and

(3)   The classification to a higher use has occurred without the lessee, who occupies the property, petitioning for such higher classification.

(b)   Taxes that are imposed upon the owners of property under this section shall be paid by the owner of such property without being transferred to the lessee who occupies the property and such tax shall be the difference between the assessed valuation of the property after the classification change times the applicable tax rate less the assessed valuation of the property as it existed before the classification change times the applicable tax rate.

(Sec. 8-6.4, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 6, § 8-6.4)

§ 8-6.5 Assessment of property of corporations or copartnerships.

   Property of a corporation or copartnership shall be assessed to it under its corporate or firm name.

(Sec. 8-6.5, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 8, Art. 6, § 8-6.5)