Bill Status of HB5086 97th General Assembly
Short Description: PROP TX-ASSESSMENTS
Rep. Sidney H. Mathias - Mike Fortner - David Harris - Dennis M. Reboletti - Tom Cross, Sandy Cole, Darlene J. Senger, JoAnn D. Osmond, Jil Tracy, Raymond Poe and Norine Hammond
| 1/8/2013||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the year immediately preceding the assessment year (under the current law, the fair cash value is based on the sales ratio studies). Effective immediately.