Summary

Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.

Digest published by the state legislature, retrieved via Open States. Heard is not affiliated with either.

Bill text

The full text of this bill isn't on Heard yet. The official documents are linked below.

• IntroducedOfficial document (PDF)
• IntroducedOfficial document (HTML)
• Finance SubstituteOfficial document (PDF)
• Finance SubstituteOfficial document (HTML)

No roll-call votes recorded for this bill yet.