SPONSOR: Van Schoiack
Upon voter approval, this constitutional amendment provides that, beginning January 1, 2027, the powers of the State Tax Commission relating to appeals from local boards of equalization on assessed valuation of real or tangible personal property are limited. This amendment limits the Commission to:
(1) Upholding the decision of the local board of equalization;
(2) Upholding the original assessed valuation; or
(3) Lowering the assessed valuation of the real or tangible personal property. The Commission is prohibited from raising such assessed valuation.
The amendment provides that, beginning January 1, 2027, the Commission must provide each county with a list that identifies real or personal property found to be above or below its true value in money and out of compliance with Commission standards.