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2004 SESSION

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SJ 85 Constitutional amendment; assessment of real property (first reference).

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); assessment of real property. Provides that beginning with the 2008 tax year, real property shall be assessed for tax purposes at no more than 102 percent of the assessed value of such property in the preceding tax year. However, if real property is sold, transferred, improved, or rezoned at the owner's request, it shall be assessed at fair market value for the tax year in which such event occurs. Such fair market value assessment shall then be subject to the two percent limitation in subsequent tax years until such time as the property is again sold, transferred, improved, or rezoned at the owner's request.

FULL TEXT

• 01/14/04  Senate: Presented & ordered printed 042969732  pdf

HISTORY

• 01/14/04  Senate: Presented & ordered printed 042969732
• 01/14/04  Senate: Referred to Committee on Privileges and Elections
• 02/03/04  Senate: Continued to 2005 in P. & E. (15-Y 0-N)