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 now include a good faith estimate of the annual dollar amount difference in property taxes for a median-valued, single-family residence resulting from the referendum's passage. This requirement applies to various political subdivisions, including counties, cities, towns, and school districts.

Furthermore, the bill introduces new requirements for bond issuance referenda, stipulating that the ballot must detail the estimated interest rate, total interest accruing on the bonds, any fees incurred if the bonds are defeased, and a similar good faith estimate of the property tax impact on median-valued residences. 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 regarding property taxes and bond issuances.

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