SB 24
Reduces the personal property assessment rate from 33.3% to 0.001% over five years
Sponsor:
LR Number:
0741S.03I
Committee:
Last Action:
2/25/2021 - Formal Calendar S Bills for Perfection
Journal Page:
Title:
Calendar Position:
9
Effective Date:
August 28, 2021

Current Bill Summary

SB 24 - Current law requires that personal property be assessed at 33.3% of its true value in money. This act reduces such percentage to 25% for the 2022 calendar year, 19% for the 2023 calendar year, 13% for the 2024 calendar year, 7% for the 2025 calendar year, and 0.001% for all subsequent years.

JOSH NORBERG

Amendments

No Amendments Found.