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19-58.1 [(-f~][(1)(A). <br />(B) The dedicated property is jointly owned by spouses <br />and upon the death of one spouse, ownership is <br />transferred to the surviving spouse, and the <br />surviving spouse does not petition the director to <br />continue the dedication as provided in section <br />19-58.1 [(#)] [(d1(1)(B). <br />(C) The property is wholly or partially destroyed or <br />damaged as a result of fire, seismic or tidal wave, <br />volcanic eruption, earthquake, flood waters and <br />wind or rain storm. <br />The owner may cancel the dedication for the reasons <br />enumerated in paragraph (2)(C) by submitting written notice of the <br />cancellation within sixty days of the damage or destruction. <br />Cancellations shall become effective July 1 of the next tax year, <br />and the property shall be assessed in accordance with section <br />19-53(a). <br />[(g)][~]~" e) The director shall prescribe the form of the petition. [eke <br />no4;a:......1.,,11 1.° F.1°.1 ...:al. al.° ,1:..,,,.a,.« 1... C°..a......L.,.. 1 ,.F ,,.... <br />k"' <br />nnl°...7.,.. ...1 ..1,..11 1.° .. .°.1 .._ .1:........_,.....,1 1... ll.......„1.... <br />1 C ..F.1..,.. ' <br />(Ilj-1~~p613-@pp~ivv"-c~tci°cve~ivativ~r"~i i I'nracovxnc-cnC-oti~caui.Tivramc <br />° ° <br />rn1.,° nl...ll 1.° .]°a°....:.,°.] .. «°A : ,,,.a:,... 1 n CZ/..\ T`L.° <br />/rr~T~liose-piueels-wixic-li-&r"e-greset3tli~'~'-'di~.aeF-a-ten-year-QediGacivn <br />..°.:..A ...:Il °°~a: ~..° al ...:.. ....:..a:.... A,.A:..,.a:,..,.. ...,1 °.... ..., °... <br />uyyaavuuva ° <br />[(ell(=fl f ^ ~~17~°''~~°'~"11 ~~J'1 ©n1Y renewal petitions w°till be accented. <br />Section 19-58.1 shall be revealed upon the final participant in the <br />nonspeculative residential use program being converted as <br />provided in l~l_subsectiori 19-53(gZ <br />Section 19-58.2. Nonspeculative residential use assessment. <br />Properties approved by the director for dedication to <br />nonspeculative residential use shall be assessed for real property tax <br />purposes in the following manner: <br />(a) Property, approved for nonspeculative residential use dedication, <br />shall be assessed for real property tax valuation purposes on its <br />market value as of the assessment date January 1 of the calendaz <br />year following the petition approval. This assessment shall be <br />frozen for the dedication period, except for adjustments as <br />provided for in this section. <br />