Senate Bill 101 creates a new tax credit that limits how much property taxes can increase year-to-year, capping increases at 3 percent above the previous year's taxes. Property owners qualify for this credit automatically unless their property changed use, classification, or had additions/expansions in the previous year, with the county auditor reducing each taxing district's portion proportionally to bring total taxes down if they exceed the 3 percent threshold.
Taxation Tabled Passed, YEAS 7, NAYS 0. S.J. 13
Taxation Scheduled for hearing
Taxation Motion to amend S.J. 7
Taxation Scheduled for hearing
Senate Referred to Senate Taxation S.J. 112
First Reading Senate S.J. 100
Prime sponsor · Rep
R
Dist. HD-006
Prime sponsor · Rep
R
Dist. SD-034
Taxation — Tabled