59-2-301.1 - Assessment of property subject to a conservation easement -- Assessment of golf course or hunting club. - Utah Statutes

59-2-301.1. Assessment of property subject to a conservation easement --Assessment of golf course or hunting club.
(1) In assessing the fair market value of property subject to a conservation easementunder Title 57, Chapter 18, Land Conservation Easement Act, a county assessor shall include aspart of the assessment any effects the conservation easement may have on the fair market valueof the property.
(2) (a) In assessing the fair market value of a golf course or hunting club, a countyassessor shall consider factors relating to the golf course or hunting club and neighboringproperty that affect the fair market value of the golf course or hunting club, including:
(i) value that transfers to neighboring property because of the presence of the golf courseor hunting club;
(ii) practical and legal restrictions on the development potential of the golf course orhunting club; and
(iii) the history of operation of the golf course or hunting club and the likelihood that thepresent use will continue into the future.
(b) The valuation method a county assessor may use in determining the fair market valueof a golf course or hunting club includes:
(i) the cost approach;
(ii) the income capitalization approach; and
(iii) the sales comparison approach.

Amended by Chapter 261, 2010 General Session