This bill addresses property tax rates.
This bill:
- defines terms;
- limits the total amount of additional property tax revenue a taxing entity may obtain through truth-in-taxation;
- excludes certain valuation increases resulting from physical improvements to property from the calculation of locally assessed new growth;
- excludes increases to the value of tangible personal property from the calculation of project area new growth; and
- makes technical changes.
Recommended by: Revenue and Taxation Interim Committee

Statutes affected:
Introduced: 59-2-919, 59-2-924