Introduced House Bill (H) 1
Authored by: Rep. Wes Culver
Assessment of real property. Provides a limit on the amount by which the assessed value of real property may be increased for the four assessment dates after the assessed value of the real property is determined in a property tax appeal, in the case of appeals initiated after the effective date of the statute. In the case of a property tax appeal that is pending on the effective date of the statute and that was filed within the preceding four years, the assessed value for the assessment date in question and for each of the following three assessment dates may not be increased by ... more than a specified amount. Specifies that these limits do not apply to any part of a change in an assessment: (1) that is directly applicable to any change in an objective factor or feature relating to the property, including an improvement or enlargement of the property; or (2) that results from the correction of an error or omission, including the correction of a mathematical error.