How is the amount of new property determined under the PTELL?
Answer #357 -- ( Published 10/12/2005 12:14 PM | Updated 07/12/2017 10:40 AM )
How is the amount of new property determined under the Property Tax Extension Limitation Law (PTELL)?
For the first year the taxing district is subject to the PTELL, the supervisor of assessments or the county assessor will determine new property. The method will be similar to that already used in reporting property assessed for the first time to the department. For subsequent years, assessors in a separate column in the assessment books will list new property.
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