The act modifies the definition of the term "residential land" for the purpose of property tax classification. Currently, a parcel of land without a residential improvement is classified as residential land if it is contiguous with a parcel of land under common ownership upon which a residential improvement is located and if it is used as a unit in conjunction with the residential improvements located thereon. The act modifies classification for this type of parcel by:Requiring the parcel to have the identical owner as the adjacent parcel based on the record title;
Requiring the parcel to have a related improvement that is essential to the use of a residential improvement located on the identically owned contiguous residential land; and
Specifying that contiguity in this instance is not interrupted by an intervening local service street, alley, or common element in a common-interest community.
The act also removes from the definition parcels of land in a residential subdivision, the exclusive use of which land is established by the ownership of such residential improvements.(Note: This summary applies to this bill as enacted.)

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Statutes affected:
Introduced (02/16/2021): 39-1-102
Engrossed (03/04/2021): 39-1-102
Reengrossed (03/05/2021): 39-1-102
Revised (04/01/2021): 39-1-102
Rerevised (04/05/2021): 39-1-102
Final Act (04/06/2021): 39-1-102
Signed Act (04/27/2021): 39-1-102