SB 131
Places a limit on the growth in assessments of residential real property
Sponsor:
LR Number:
0438S.01I
Committee:
Last Action:
5/6/2021 - Informal Calendar S Bills for Perfection
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 131 - This act provides that the assessed valuation for residential real property shall not exceed the previous assessed valuation for such property, exclusive of new construction and improvements, by more than five percent or the percent increase in inflation, whichever is greater.

This act is substantially similar to SCS/SBs 675 & 705 (2020) and is similar to a provision contained in HCS/SS/SCS/SB 570 (2020), HCS/SS/SCS/SB 594 (2020), and HCS/SCS/SB 725 (2020).

JOSH NORBERG

Amendments

No Amendments Found.