Enrolled Senate Bill (S)

DIGEST

Property tax audit contractor compensation. Extends the prohibition under current law against contracting for property tax audit services on a percentage basis to include any method that bases payments under the contract on increases of assessed value or property tax revenue that are attributable to the discovery of property that has been undervalued or omitted from assessment. Specifies conditions for intermediate distributions of property tax revenue that is collected before the expiration of a contract for property tax audit services. Provides that the term of a contract for property tax audit services may not exceed three years, including any extensions. Property tax audit contractor compensation. Extends the prohibition under current law against contracting for property tax audit services on a percentage basis to include any method that bases payments under the contract on increases of assessed value or property tax revenue that are attributable to the discovery of property that has been undervalued or omitted from assessment. Specifies conditions for intermediate distributions of property tax revenue that is collected before the expiration of a contract for property tax audit services. Provides that the term of a contract for property tax audit services may not exceed three years, including any extensions.