Section 59-2-301.6 - Definition - Assessment of property having a diminished productive value(1) As used in this section, "diminished productive value" means that property has no, or a significantly reduced, ability to generate income as a result of:(a) a parcel size requirement established under a land use ordinance or zoning map adopted by a:(i) city or town in accordance with Title 10, Chapter 9a, Part 5, Land Use Regulations; or(ii) a county in accordance with Title 17, Chapter 27a, Part 5, Land Use Regulations; or(b) one or more easements burdening the property.(2) In assessing the fair market value of property, a county assessor shall consider as part of the determination of fair market value whether property has diminished productive value.(3) This section does not prohibit a county assessor from including as part of a determination of the fair market value of property any other factor affecting the fair market value of the property.Added by Chapter 218, 2014 General Session ,§ 1, eff. 1/1/2015.