House Bill 1349
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DIGEST OF INTRODUCED BILL
Property taxes. Phases in the changes in assessed value due to the general reassessment over four years. Provides that, in determining a civil taxing unit's maximum property tax levy, the minimum increase in the unit's assessed value growth quotient is equal to the lesser of the rate of inflation (determined according to the gross domestic product implicit price deflator prepared by the United States Department of Commerce) or 5%. (Current law provides that the minimum increase in the assessed value growth quotient is 5%.) Beginning in 2001, eliminates the remaining property tax levies for public welfare (the family and children's fund levy, the county medical assistance to wards levy, the county hospital care for the indigent levy, and the children with special health care needs levy), except for property tax levies needed to repay loans and bonds issued before January 1, 2001. Transfers responsibility for funding these services to the state. Revises the county adjusted gross income tax and the county option income tax fund distributions. Adjusts county maximum levies.
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