Assessment Ratios
The following percentage of each class of property is used to determine the assessed value of the property for purposes of taxation:
| Manufacturing Property |
10.5% of fair market value |
| Utility Property |
10.5% of fair market value |
| Railroads, Private Carlines, Airlines and Pipelines |
9.5% of fair market value |
| Primary Residences |
4.0% of fair market value |
| Agricultural Property (privately owned) |
4.0% of use value |
| Agricultural Property (corporate owned) |
6.0% of use value |
| Other real estate |
6.0% of fair market value |
| Personal property |
10.5% of income tax depreciated value |
Manufacturing, utility, railroads, carlines, airlines and business personal property are assessed by the Department of Revenue. All other property is assessed by the county assessor. A state property tax is levied on private carlines and airlines based on the average statewide millage rate.
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