factors affecting fair market value. (1) "Minimum parcel size" means the minimum size that a parcel of property may be divided into under a zoning ordinance adopted by a: (a) county in accordance with Title 17, Chapter 79, Part 5, Land Use Regulations - General Processes; or (b) city or town in accordance with Title 10, Chapter 20, Part 5, Land Use Regulations - General Processes. (2) In assessing the fair market value of a parcel of property that is subject to a minimum parcel size of one acre or more, a county assessor shall include as part of the assessment: (a) that the parcel of property may not be subdivided into parcels of property smaller than the minimum parcel size; and (b) any effects Subsection (2)(a) may have on the fair market value of the parcel of property. (3) This section does not prohibit a county assessor from including as part of an assessment of the fair market value of a parcel of property any other factor affecting the fair market value of the parcel of property.
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