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2000 SESSION

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SB 198 Local taxes; interest on assessment refunds.

Introduced by: Janet D. Howell | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Local taxes; interest on refunds. Provides that localities are not required to pay interest on refunds to taxpayers if the amount of the refund that would be due is $10 or less or if the refund is related to prorated personal property taxes. The 1999 General Assembly passed legislation requiring a locality to pay interest on refunds at the same rate charged by the locality on delinquent taxes.

SUMMARY AS PASSED SENATE:

Local taxes; interest on refunds. Provides that localities are not required to pay interest on refunds to taxpayers if the amount of the interest that would be due is $10 or less or the refund is related to prorated personal property taxes. The 1999 General Assembly passed legislation requiring a locality to pay interest on refunds at the same rate charged by the locality on delinquent taxes.

SUMMARY AS INTRODUCED:

Local taxes; interest on refunds. Provides that localities are not required to pay interest on refunds to taxpayers if (i) the amount of the interest that would be due is $20 or less; (ii) the refund is due to an overpayment by the taxpayer (as opposed to an erroneous assessment); or (iii) the refund is related to prorated personal property taxes. The 1999 General Assembly passed legislation requiring a locality to pay interest on refunds at the same rate charged by the locality on delinquent taxes.