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SB 680 - 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 identical to SB 131 (2021), is substantially similar to SCS/SBs 675 & 705 (2020) and to a provision in SS/SCS/SB 649 (2022), 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
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