SJR 4 Limits increases in assessed value of real property caused by reassessment until a transfer of ownership occurs
Sponsor: Cunningham
LR Number: 0548S.01I Fiscal Note: 0548-01
Committee: Ways and Means
Last Action: 3/4/2009 - Hearing Conducted S Ways and Means Committee Journal Page:
Title: Calendar Position:
Effective Date: Upon voter approval

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Current Bill Summary

SJR 4 - This constitutional amendment, if approved by voters, would limit increases in assessed value due to reassessment of real property to the lesser of the percentage increase in the consumer price index for the Midwest Region or two percent 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.