This bill modifies truth-in-taxation notice requirements for a fiscal year taxing entity that anticipates increasing the amount of revenue generated by property tax.
This bill:
- requires a fiscal year taxing entity to provide notice of the fiscal year taxing entity's intent to levy a property tax rate that exceeds the certified tax rate, and the approximate amount of the revenue increase and purpose of the revenue increase, before the fiscal year taxing entity begins the budgeting process;
- limits the fiscal year taxing entity's tax rate to a rate that will not generate more than the revenue increase amount stated in the notice;
- prohibits the State Tax Commission from certifying a fiscal year taxing entity's proposed property tax increase if the fiscal year taxing entity fails to meet the notice requirement; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 11-13-509, 17B-1-609, 59-2-911, 59-2-919, 63G-7-704