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2006 SESSION

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HB 169 Real estate tax; limitation on tax rate.

Introduced by: L. Scott Lingamfelter | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Real estate tax; limitation on tax rate.  Provides that localities must set real estate tax rates so that the total real estate tax revenue will not increase by more than 3% over the previous year's total real property tax levies with one exception. The exception would allow a locality to set its property tax rate at a rate not to exceed the rate of population growth plus the rate of inflation in the locality for the immediately preceding year, but in no event shall the rate be set at any amount that would produce more than 6% growth. 


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