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2004 SPECIAL SESSION I

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SB 5005 Personal Property Tax Relief Act of 1998; changes to a Local-Option Program.

Introduced by: J. Brandon Bell, II | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Personal property tax relief. Modifies the Personal Property Tax Relief Act of 1998 by setting the total statewide reimbursement amount at $950 million for tax years 2006 and thereafter. Each county's, city's, or town's share of the $950 million for each such tax year shall be determined pro rata based upon the actual payments to such county, city, or town for tax year 2005 as compared to the actual payments to all counties, cities, and towns for tax year 2005.


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