SB 104
Reduces the assessment percentage of personal property
Sponsor:
LR Number:
0685S.01I
Committee:
Last Action:
2/2/2023 - Re-referred S General Laws Committee
Journal Page:
Title:
Effective Date:
August 28, 2023

Current Bill Summary

SB 104 - Current law requires personal property to be assessed at 33.3% of its true value in money. Beginning with the 2024 calendar year, this act reduces such percentage by one percent a year through the 2035 calendar year. Beginning with the 2036 calendar year, personal property shall be assessed at 20% of its true value in money.

JOSH NORBERG

Amendments

No Amendments Found.