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Senate Bill 0274

Senate Bill 0274

ARCHIVE (2004)

Latest Information

DIGEST OF SB 274 (Updated February 11, 2004 4:35 pm - DI 92)

Tax abatement fee. Provides that a municipality or county that grants a tax abatement to a property owner may impose an annual fee with the consent of the property owner. Provides that the amount of the fee is equal to: (1) a percentage of the additional property taxes that would have been paid during that year without the abatement (not to exceed 15%), or (2) $100,000, whichever is less. Allows the designating body to terminate the abatement if the fee is not paid.
    Current Status:
    Out of Committee 2nd House
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