Senate Bill 0021
DIGEST OF SB21 (Updated January 22, 2008 4:08 pm - DI 84)
Property taxation. Provides that in a county that, after December 31, 2007: (1) issues bills or revised bills for property taxes first due and payable in 2007; or (2) issues a reconciling statement for property taxes first due and payable in 2007; the county council may adopt a resolution authorizing the county auditor and the county treasurer to apply the additional 2007 homestead credit as a credit against property tax liability or as a refund. Provides that in a county: (1) that, after December 31, 2007, issues bills or revised bills for property taxes first due and payable in 2007 or issues a reconciling statement for property taxes first due and payable in 2007; and (2) in which the percentage increase in property taxes billed exceeds 30% for more than one-half of the homesteads in the county; the amount of the additional 2007 homestead credit for a taxpayer is equal to the greater of the amount required to reduce the percentage increase in taxes billed to 35% or the amount required to provide a 20% reduction in the increase in taxes billed. Provides that in such a county, a taxpayer is eligible to receive the additional 2007 homestead credit if the percentage increase in taxes billed to the taxpayer is at least 10%. Provides that in calculating eligibility for and the amount of the additional 2007 homestead credit under these provisions, any increase in taxes billed that results from the new construction of a homestead on the taxpayer's property is excluded. Provides that a county council may adopt an ordinance to allow a taxpayer to make installment payments of taxes due under a reconciling statement. Requires the ordinance to specify: (1) the reconciling statement to which the ordinance applies; and (2) the installment due dates for taxpayers that choose to make installment payments. Specifies penalties for unpaid installments.
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