| 1 | Representative Robaina offered the following: |
| 2 |
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| 3 | Amendment to Amendment (738155) |
| 4 | Remove lines 107-116 and insert: |
| 5 | (b)1. If appropriate to the property, the assessed value |
| 6 | shall be calculated using the income approach to value, and |
| 7 | using a capitalization rate based upon the debt coverage ratio |
| 8 | formula. The capitalization rate shall be calculated and updated |
| 9 | annually. The capitalization rate shall be based on data that is |
| 10 | county specific unless insufficient data is available, in which |
| 11 | case the property appraisers shall use data from counties with |
| 12 | similar conditions and characteristics, or data provided by the |
| 13 | department. The condition and size of the property shall also be |
| 14 | taken into account when assessing the property. |
| 15 | 2. In assessing property for which the methodology in |
| 16 | subparagraph 1. is not appropriate, the property appraiser shall |
| 17 | consider only the following factors: |
| 18 | a. The condition of the property. |
| 19 | b. The present market value of the property in its current |
| 20 | use. |
| 21 | c. The income produced by the property. |
| 22 | 3. In no event shall the assessed value of the property |
| 23 | exceed just value. |