15-7-309. Classification or assessment methods.
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15-7-309 . Classification or assessment methods.
(1)This part shall not change or modify the methods of classification or assessment of real estate as provided for in this title or in any law of this state.
(2)The sale price of real estate shall not be the sole determinant of assessed value. The department shall consider, wherein the consideration is to be paid in deferred installments over a period of 10 years or more, the terms of the contract, amount of downpayment, amount of each installment, rate of interest, and other covenants or exceptional circumstances which may affect the consideration paid for real estate.