Changes to Existing Law
SB101 — Provide a tax credit to limit the taxes due on property over the previous year.
1 section modified+109-0
View:
§ 10-13
New Section+109
NEW SECTION added to Chapter 10-13
Unless otherwise provided in section 2 of this Act, an owner of real property is entitled to receive a tax credit on the all property taxes imposed on the real property, if the total taxes imposed by all taxing districts on the real property in a year, excluding any tax resulting from a local decision to exceed the limits set forth in § 10-12-43 or 10-13- 36, exceed one hundred and three percent of the total taxes imposed by all taxing districts on the real property in the previous year, excluding any tax resulting from a local decision to exceed the limits set forth in § 10-12-43 or 10-13-36.