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2022 SESSION

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SB 620 Real property taxes; rate of increase.

Introduced by: John A. Cosgrove, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Real property taxes; rate of increase. Requires the governing body of a locality to hold a referendum before making most increases in their real property tax rate. Under current law, the governing body of a locality is required to limit their real property tax rate to a rate that would collect no more than 101 percent of the amount of real property taxes collected for the previous year. Increases above this rate may only be imposed if the locality holds a public meeting. The bill replaces the public meeting requirement with a requirement that any such increase be approved in a referendum.


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