SB 1009 - Current law requires residential real property to be assessed at 19% of its true value in money. Beginning with the 2024 calendar year, this act reduces such percentage by one percent every two years through the 2030 calendar year. Beginning with the 2031 calendar year, residential real property shall be assessed at 15% of its true value in money. This act is substantially similar to SS/SB 105 (2023).
JOSH NORBERG