Assembly Bill 60 aims to enhance transparency in property tax referenda by requiring additional information to be included in ballot questions. Currently, local governmental units can exceed their property tax levy limits if approved by voters in a referendum, but the bill mandates that the ballot must not only state the dollar amount of the proposed increase but also provide a good faith estimate of the annual dollar amount difference in property taxes for a median-valued, single-family residence within the district. This requirement applies to various local entities, including counties, cities, towns, and school districts.

Furthermore, the bill introduces new stipulations for bond issuance referenda, necessitating that the ballot questions include estimated interest rates, potential fees for defeasance, and the same property tax impact estimates for median-valued homes. The bill renumbers and amends existing statutes to incorporate these changes, ensuring that voters have a clearer understanding of the financial implications of their decisions. The new provisions will take effect for referenda held 90 days after the bill's effective date.

Statutes affected:
Bill Text: 38.16(3)(br)3, 38.16, 66.0602(4)(c), 66.0602, 121.91(3)(c), 121.91