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House Bill 1484

House Bill 1484

ARCHIVE (2011)

Latest Information

DIGEST OF HB1484 (Updated March 30, 2011 11:39 am - DI 84)

Property taxes. Prohibits the department of local government finance from approving a budget until a taxing unit files a financial report with the state board of accounts in the immediately preceding year. Corrects a reference to the date of the 2015 general reassessment. Establishes a procedure for a taxpayer to appeal an error in a circuit breaker or other property tax credit. Changes the methodology for: (1) a civil taxing unit's maximum permissible ad valorem property tax levy for the ensuing calendar year; and (2) adjusting a maximum permissible property tax rate after a reassessment that does not result in an increase in the assessed value of a taxing unit. Allows a treasurer to include a statement of delinquent taxes and special assessments, interest, and penalties on a provisional statement or reconciling statement. Specifies that the full amount of property taxes imposed after being approved in a referendum shall be deposited in the fund for which the property taxes were imposed without reduction for the circuit breaker credits granted to taxpayers. Provides that if the debt service fund has a deficiency as the result of the application of circuit breaker credits, the amount of the deficit must be appropriated and paid from another fund. Requires certain surplus local option income tax revenue to be used as property tax replacement credits. Requires a proposed school referendum levy to specify whether the levy is to be used for the general purposes of the school or to replace revenue lost because of the application of circuit breaker credits. Requires the department of local government finance to approve the language to be placed on the ballot for a referendum concerning a capital project of a political subdivision or a referendum for an additional school operating levy, and limits the extent to which explanatory information may be added to the public question. Permits a person to appeal an error in the application of a property tax credit. Corrects a reference to the deadline for adopting a school bus replacement fund plan or a capital projects fund plan. Repeals certain provisions concerning civil government property tax controls.
Current Status:
In Committee - 2nd House
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