DIGEST OF INTRODUCED BILL
Property tax trending formula. Indicates that annual adjustments in the assessed value of real property for property tax purposes must be based on appropriate market factors. Transfers the responsibility of establishing market factors for the annual adjustment of property assessments to the department of local government finance. Requires the department of local government finance to base adjustment factors on an analysis of value changes occurring to large samples of similarly situated properties located in more than one county. Makes other related changes.