SB 105
Reduces the assessment percentage of real property
Sponsor:
LR Number:
0684S.01I
Committee:
Last Action:
5/12/2023 - Informal Calendar S Bills for Perfection
Journal Page:
Title:
Effective Date:
August 28, 2023

Current Bill Summary

SS/SB 105 - Current law requires residential real property to be assessed at 19% of its true value in money. Beginning with the 2024 calendar year, this act reduces such percentage by 0.5% per year through the 2030 calendar year. Beginning with the 2031 calendar year, residential real property shall be assessed at 15% of its true value in money.

JOSH NORBERG