This bill amends section 13-3403 of the Revised Statutes Cumulative Supplement, 2024, concerning the Property Tax Growth Limitation Act. It establishes new criteria for calculating property tax request authority for political subdivisions starting from fiscal years beginning on or after July 1, 2025. The preliminary property tax request authority will be based on the amount levied in the prior year, adjusted for exceptions. The bill introduces specific conditions under which a political subdivision's property tax request authority can be increased, depending on the proportion of the budget allocated to public safety services.

The new provisions specify that if public safety services account for twenty percent or more of a political subdivision's budget funded by property taxes, the authority may be increased by a combination of the prior year's levied amount adjusted for growth and inflation percentages. Conversely, if public safety services account for less than twenty percent, the increase will be based on a similar calculation but with a minimum increase of two percent instead of zero. The original section 13-3403 is repealed, and the act is declared to take effect immediately upon passage and approval due to the existence of an emergency.

Statutes affected:
Introduced: 13-3403