What does the code 48-5-11 refer to?

The code 48-5-11 pertains specifically to the tax situs for residents. This code establishes the criteria for determining the location or situs for tax purposes of personal property owned by residents. It is crucial for assessing where taxes are levied on an individual’s property, ensuring that residents are taxed appropriately based on their primary residence and any other holdings.

Understanding this code is vital for both taxpayers and appraisers, as it directly impacts how property assessments are made and how tax obligations are structured for residents. This focus on the resident aspect differentiates it from codes that may address businesses, non-profits, or tax assessment procedures, which have their distinct regulations and considerations.