SJR 44 Limits increases in assessed value of residential real property caused by reassessment to the rate of inflation until a transfer of ownership occurs
Sponsor: Loudon
LR Number: 4408S.02I Fiscal Note:
Committee: Ways & Means
Last Action: 1/24/2008 - Second Read and Referred S Ways & Means Committee Journal Page: S133
Title: Calendar Position:
Effective Date: Upon voter approval

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Current Bill Summary

SJR 44 - This constitutional amendment, if approved by voters, would limit increases in assessed value due to reassessment of residential real property to a maximum of the inflationary rate over a prior year assessment until a transfer of ownership occurs. Upon a transfer of ownership, such property would be reassessed at its value for the year in which the transfer occurs.