This bill addresses property tax increases through truth in taxation. This bill: - defines terms; - requires fiscal year taxing entities proposing a property tax rate increase to make a preliminary statement in a public meeting regarding the taxing entity's consideration of a tax rate increase; - clarifies notice and publication requirements for towns proposing a tax rate increase that do not have public websites; - clarifies the State Tax Commission's authority to deny a taxing entity's proposed tax rate increase for failing to meet truth in taxation requirements; - provides for a one-year period in which the State Tax Commission is not required to deny a fiscal year taxing entity's proposed tax rate increase for failure to comply with certain truth in taxation requirements; - requires fiscal year taxing entities proposing a property tax increase to:prepare and adopt an interim budget that includes a property tax impact schedule; andreserve a certain amount of the taxing entity's general fund revenue in a restricted budget account for a limited period of time; - includes a coordination clause to incorporate changes made to Section 59-2-919 in S.B. 238, Property Tax Adjustments; and - makes technical and conforming changes.

Statutes affected:
Introduced: 59-2-919, 59-2-923, 59-2-924
Substitute #1: 10-6-106, 10-6-111, 10-6-118, 59-2-919, 59-2-923, 59-2-924
Amended 3/6/2026 19:03:604: 59-2-919, 59-2-923, 59-2-924
Substitute #2: 59-2-919, 59-2-923, 59-2-924
Enrolled: 59-2-919, 59-2-923, 59-2-924
Amended 3/6/2026 21:03:347: 59-2-919, 59-2-923, 59-2-924
Substitute #3: 59-2-919, 59-2-923, 59-2-924