[For contingent repeal of this section, see the Compiler's Notes.] Limitation on value of principal residence

The limitation on value of the principal place of residence shall be under fifty thousand dollars ($50,000) and shall be determined by the appraised fair market value as it appears on the records of the county assessor and not the reduced assessment. Acts 1980, ch. 659, § 6. The limitation on value of the principal place of residence shall be under fifty thousand dollars ($50,000) and shall be determined by the appraised fair market value as it appears on the records of the county assessor and not the reduced assessment. Acts 1980, ch. 659, § 6.