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House Bill 1257


House Bill 1257

ARCHIVE (2010)

Latest Information

 

DIGEST OF INTRODUCED BILL


Real property assessed values and trending. Requires that annual adjustments in the assessed value of real property for property tax purposes must be based on appropriate market factors. Transfers the responsibility for establishing market factors for the annual adjustment of property assessments to the department of local government finance (DLGF). Requires the DLGF to base adjustment factors on an analysis of value changes occurring to large samples of similarly situated properties located in more than one county. Allows the county assessor to adjust a market factor with the DLGF's approval. Makes other related changes.
Current Status:
 In Committee - first House
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